Zacks Investment Research lowered shares of Fox Factory Holding Corp. (NASDAQ:FOXF) from a buy rating to a hold rating in a research note issued to investors on Friday.

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. “

Several other research analysts have also recently issued reports on the stock. Bank of America Corporation cut shares of Fox Factory Holding Corp. from a buy rating to a neutral rating and set a $38.00 target price for the company. in a report on Wednesday, July 12th. They noted that the move was a valuation call. DA Davidson restated a hold rating and issued a $34.00 target price on shares of Fox Factory Holding Corp. in a report on Friday, June 30th. Robert W. Baird restated a hold rating and issued a $40.00 target price on shares of Fox Factory Holding Corp. in a report on Thursday, September 28th. William Blair cut shares of Fox Factory Holding Corp. from an outperform rating to a market perform rating in a report on Friday, October 13th. Finally, Stifel Nicolaus restated a hold rating and issued a $38.00 target price (up previously from $32.00) on shares of Fox Factory Holding Corp. in a report on Wednesday, August 9th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $38.86.

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) opened at 43.05 on Friday. The stock has a market cap of $1.61 billion, a PE ratio of 34.44 and a beta of 0.69. The company’s 50-day moving average is $42.09 and its 200-day moving average is $36.21. Fox Factory Holding Corp. has a 52-week low of $19.65 and a 52-week high of $46.80.

Fox Factory Holding Corp. (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Fox Factory Holding Corp. had a net margin of 10.67% and a return on equity of 29.60%. The company had revenue of $120.80 million during the quarter, compared to analysts’ expectations of $117.16 million. During the same quarter in the previous year, the business posted $0.32 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. Equities analysts anticipate that Fox Factory Holding Corp. will post $1.50 EPS for the current year.

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In other news, SVP William H. Katherman sold 2,356 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $36.95, for a total value of $87,054.20. Following the completion of the transaction, the senior vice president now owns 32,750 shares in the company, valued at approximately $1,210,112.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Carl Nichols sold 6,503 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $37.89, for a total transaction of $246,398.67. Following the completion of the transaction, the director now owns 36,410 shares of the company’s stock, valued at approximately $1,379,574.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,739 shares of company stock valued at $2,766,288. Company insiders own 21.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its position in Fox Factory Holding Corp. by 7.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,926,907 shares of the company’s stock valued at $210,998,000 after purchasing an additional 404,704 shares during the last quarter. BlackRock Inc. raised its position in Fox Factory Holding Corp. by 15.2% in the 2nd 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 during the last quarter. Vanguard Group Inc. raised its position in Fox Factory Holding Corp. by 7.7% in the 2nd 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 during the last quarter. Conestoga Capital Advisors LLC raised its position in Fox Factory Holding Corp. by 6.3% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,577,516 shares of the company’s stock valued at $56,160,000 after purchasing an additional 93,655 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Fox Factory Holding Corp. by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,295,789 shares of the company’s stock valued at $46,129,000 after purchasing an additional 5,135 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

About Fox Factory Holding Corp.

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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Analyst Recommendations for Fox Factory Holding Corp. (NASDAQ:FOXF)

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