Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $30.17 Average Price Target from Brokerages

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $30.1667.

A number of equities research analysts have recently weighed in on FOXF shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. Roth Mkm dropped their price objective on Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. CJS Securities raised shares of Fox Factory to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Zacks Research downgraded shares of Fox Factory from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 4th.

Hedge Funds Weigh In On Fox Factory

Several hedge funds have recently bought and sold shares of FOXF. Nantahala Capital Management LLC increased its stake in shares of Fox Factory by 200.3% in the fourth quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock worth $37,442,000 after purchasing an additional 1,459,652 shares during the period. Walleye Capital LLC grew its holdings in Fox Factory by 61.7% in the 4th quarter. Walleye Capital LLC now owns 196,523 shares of the company’s stock valued at $3,363,000 after buying an additional 74,973 shares during the last quarter. Formula Growth Ltd. grew its holdings in Fox Factory by 199.3% in the 4th quarter. Formula Growth Ltd. now owns 139,206 shares of the company’s stock valued at $2,382,000 after buying an additional 92,700 shares during the last quarter. Bridgefront Capital LLC increased its position in Fox Factory by 176.3% in the 4th quarter. Bridgefront Capital LLC now owns 33,357 shares of the company’s stock worth $571,000 after buying an additional 21,283 shares during the period. Finally, Headlands Technologies LLC lifted its holdings in shares of Fox Factory by 46.3% during the fourth quarter. Headlands Technologies LLC now owns 30,228 shares of the company’s stock worth $517,000 after buying an additional 9,570 shares during the last quarter.

Fox Factory Trading Up 1.4%

Shares of NASDAQ:FOXF opened at $19.31 on Wednesday. The firm has a fifty day moving average of $18.25 and a two-hundred day moving average of $21.90. The company has a quick ratio of 1.36, a current ratio of 2.98 and a debt-to-equity ratio of 0.69. Fox Factory has a 12-month low of $13.08 and a 12-month high of $31.18. The firm has a market capitalization of $807.18 million, a P/E ratio of -3.12 and a beta of 1.50.

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.