ValuEngine Lowers Fox Factory (FOXF) to Hold

ValuEngine downgraded shares of Fox Factory (NASDAQ:FOXF) from a buy rating to a hold rating in a research note published on Friday.

Several other equities research analysts have also recently weighed in on FOXF. Stifel Nicolaus reissued a hold rating and set a $38.00 price target (up previously from $32.00) on shares of Fox Factory in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Fox Factory from a buy rating to a hold rating in a report on Tuesday, August 22nd. Robert W. Baird restated a hold rating and issued a $40.00 price objective on shares of Fox Factory in a report on Thursday, September 28th. Bank of America upped their price objective on shares of Fox Factory from $39.00 to $42.00 and gave the stock a neutral rating in a report on Thursday, September 21st. Finally, SunTrust Banks restated a hold rating and issued a $36.00 price objective on shares of Fox Factory in a report on Friday, October 20th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Fox Factory has a consensus rating of Hold and an average target price of $40.14.

Shares of Fox Factory (NASDAQ:FOXF) traded up $0.15 on Friday, reaching $39.15. 538,600 shares of the company’s stock traded hands, compared to its average volume of 318,178. The stock has a market cap of $1,469.77, a PE ratio of 25.76, a P/E/G ratio of 1.85 and a beta of 0.62. The company has a quick ratio of 1.41, a current ratio of 2.48 and a debt-to-equity ratio of 0.26. Fox Factory has a fifty-two week low of $24.63 and a fifty-two week high of $46.80.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The business had revenue of $127.40 million during the quarter, compared to analysts’ expectations of $123.02 million. Fox Factory had a net margin of 10.76% and a return on equity of 28.25%. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 EPS. analysts predict that Fox Factory will post 1.53 earnings per share for the current fiscal year.

In related news, SVP William H. Katherman sold 18,580 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $42.01, for a total value of $780,545.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.40% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of FOXF. Ameritas Investment Partners Inc. increased its stake in Fox Factory by 76.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock valued at $110,000 after purchasing an additional 1,332 shares in the last quarter. SG Americas Securities LLC bought a new stake in Fox Factory during the 2nd quarter valued at about $111,000. LS Investment Advisors LLC increased its stake in Fox Factory by 7.5% during the 2nd quarter. LS Investment Advisors LLC now owns 3,990 shares of the company’s stock valued at $142,000 after purchasing an additional 279 shares in the last quarter. Paradigm Asset Management Co. LLC bought a new stake in Fox Factory during the 2nd quarter valued at about $160,000. Finally, Pinebridge Investments L.P. increased its stake in Fox Factory by 20.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,564 shares of the company’s stock valued at $163,000 after purchasing an additional 778 shares in the last quarter. Institutional investors own 98.07% of the company’s stock.

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About Fox Factory

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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