Fox Factory (FOXF) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Fox Factory (NASDAQ:FOXF) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $44.00 target price on the stock.
According to Zacks, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California. “
A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus reissued a hold rating and issued a $44.00 price target on shares of Fox Factory in a report on Sunday, December 3rd. ValuEngine downgraded shares of Fox Factory from a buy rating to a hold rating in a report on Friday, December 1st. Bank of America increased their price target on shares of Fox Factory from $42.00 to $45.00 and gave the stock a neutral rating in a report on Tuesday, October 24th. SunTrust Banks reissued a hold rating and issued a $36.00 price target on shares of Fox Factory in a report on Friday, October 20th. Finally, William Blair downgraded shares of Fox Factory from an outperform rating to a market perform rating in a report on Friday, October 13th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $39.29.
Fox Factory (FOXF) opened at $39.65 on Wednesday. The company has a current ratio of 2.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1,488.54, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.87 and a beta of 0.62. Fox Factory has a 1 year low of $25.25 and a 1 year high of $46.80.
Fox Factory (NASDAQ:FOXF) last issued its earnings results on Wednesday, November 1st. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Fox Factory had a net margin of 10.76% and a return on equity of 28.25%. The firm had revenue of $127.40 million during the quarter, compared to analyst estimates of $123.02 million. During the same quarter last year, the business earned $0.44 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. sell-side analysts expect that Fox Factory will post 1.53 EPS for the current fiscal year.
In related news, CFO Zvi Glasman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $39.72, for a total value of $595,800.00. Following the sale, the chief financial officer now directly owns 64,100 shares of the company’s stock, valued at $2,546,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William H. Katherman sold 18,580 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $42.01, for a total transaction of $780,545.80. The disclosure for this sale can be found here. Corporate insiders own 21.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in Fox Factory by 11.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,613,788 shares of the company’s stock valued at $285,055,000 after purchasing an additional 686,881 shares in the last quarter. BlackRock Inc. raised its stake in Fox Factory by 15.2% in the second quarter. BlackRock Inc. now owns 4,059,323 shares of the company’s stock valued at $144,512,000 after purchasing an additional 536,712 shares in the last quarter. Vanguard Group Inc. raised its stake in Fox Factory by 7.7% in the second quarter. Vanguard Group Inc. now owns 1,808,368 shares of the company’s stock valued at $64,377,000 after purchasing an additional 129,129 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Fox Factory by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,306,088 shares of the company’s stock valued at $56,292,000 after purchasing an additional 10,299 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in Fox Factory by 187.3% in the third quarter. Neuberger Berman Group LLC now owns 1,144,537 shares of the company’s stock valued at $49,330,000 after purchasing an additional 746,191 shares in the last quarter. 98.07% of the stock is currently owned by institutional investors and hedge funds.
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Fox Factory Company Profile
Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.
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