Fox Factory (NASDAQ:FOXF) Stock Price Up 8.2% – Still a Buy?

Fox Factory Holding Corp. (NASDAQ:FOXF) shares rose 8.2% on Wednesday . The stock traded as high as $18.04 and last traded at $18.0790. Approximately 201,284 shares changed hands during trading, a decline of 67% from the average daily volume of 615,839 shares. The stock had previously closed at $16.71.

Wall Street Analyst Weigh In

Several brokerages have commented on FOXF. Stifel Nicolaus set a $24.00 price target on Fox Factory in a report on Thursday, April 16th. Zacks Research downgraded shares of Fox Factory from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, Roth Mkm restated a “neutral” rating and issued a $20.00 price objective on shares of Fox Factory in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Fox Factory presently has an average rating of “Hold” and a consensus target price of $25.33.

Fox Factory Price Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 2.99 and a quick ratio of 1.52. The stock’s 50 day simple moving average is $17.00 and its two-hundred day simple moving average is $17.23. The stock has a market cap of $768.97 million, a price-to-earnings ratio of -2.56, a P/E/G ratio of 0.64 and a beta of 1.37.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. The firm had revenue of $368.66 million for the quarter, compared to the consensus estimate of $351.76 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that Fox Factory Holding Corp. will post 1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

A number of institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP lifted its position in shares of Fox Factory by 1.1% during the 4th quarter. Engineers Gate Manager LP now owns 73,895 shares of the company’s stock worth $1,264,000 after buying an additional 770 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Fox Factory by 12.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock worth $203,000 after buying an additional 858 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Fox Factory during the 3rd quarter worth $25,000. Resona Asset Management Co. Ltd. lifted its position in shares of Fox Factory by 33.3% during the 4th quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock worth $73,000 after buying an additional 1,035 shares during the last quarter. Finally, Creative Planning lifted its position in shares of Fox Factory by 11.6% during the 3rd quarter. Creative Planning now owns 9,971 shares of the company’s stock worth $242,000 after buying an additional 1,040 shares during the last quarter.

About Fox Factory

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.