Fox Factory Holding Corp. (NASDAQ:FOXF) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $21.00.

FOXF has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Fox Factory in a report on Wednesday, June 3rd. Bank of America downgraded shares of Fox Factory from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $24.00 to $20.00 in a research report on Tuesday, June 30th. Zacks Research upgraded shares of Fox Factory from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 31st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fox Factory in a research note on Friday, August 7th. Finally, Fox Advisors set a $20.00 price target on shares of Fox Factory in a report on Tuesday, June 30th.

Hedge Funds Weigh In On Fox Factory

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOXF. Corient Private Wealth LP lifted its holdings in shares of Fox Factory by 11.1% in the 2nd quarter. Corient Private Wealth LP now owns 119,632 shares of the company’s stock valued at $2,027,000 after buying an additional 11,921 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Fox Factory by 6.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,487 shares of the company’s stock worth $1,161,000 after acquiring an additional 4,383 shares during the period. Empowered Funds LLC acquired a new position in Fox Factory during the second quarter worth $7,390,000. Formula Growth Ltd. purchased a new position in Fox Factory in the second quarter worth $4,108,000. Finally, Jefferies Financial Group Inc. purchased a new position in Fox Factory in the second quarter worth $496,000.

Fox Factory Stock Performance

Shares of FOXF stock opened at $18.70 on Friday. The stock’s 50-day moving average price is $19.90 and its 200 day moving average price is $18.20. The company has a quick ratio of 1.55, a current ratio of 3.10 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $785.96 million, a PE ratio of -2.62, a price-to-earnings-growth ratio of 0.53 and a beta of 1.38. Fox Factory has a 52-week low of $13.08 and a 52-week high of $26.01.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The company had revenue of $358.12 million during the quarter, compared to analysts’ expectations of $352.94 million. Fox Factory had a positive return on equity of 5.57% and a negative net margin of 20.39%.The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. As a group, equities research analysts forecast that Fox Factory will post 1.57 EPS for the current year.

Fox Factory Company Profile

Fox Factory Holding Corp. (NASDAQ: FOXF) designs, engineers and manufactures performance products for the cycling, powersports and specialty vehicle markets. The company’s offerings are intended for applications ranging from mountain biking and racing to off-road driving, snowmobiling and other recreational activities.

Its product portfolio includes suspension forks, shocks, dropper seatposts, wheels, drivetrain components, protective equipment, apparel and other vehicle accessories. Fox Factory sells products under brands that include FOX, Marzocchi, Race Face, Easton Cycling, Ride Concepts and RockyMounts.

Founded in 1974 by Bob Fox, the company began with suspension technology and expanded through product development and acquisitions into a broader portfolio of performance brands.