Fox Factory (NASDAQ:FOXF) Given Hold Rating at Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of Fox Factory (NASDAQ:FOXF) in a report released on Sunday, December 3rd. Stifel Nicolaus currently has a $44.00 price target on the stock.

Several other equities research analysts have also recently commented on the company. ValuEngine cut Fox Factory from a buy rating to a hold rating in a research note on Monday, October 2nd. Zacks Investment Research cut Fox Factory from a buy rating to a hold rating in a research note on Friday, November 3rd. Finally, Bank of America lifted their price objective on Fox Factory from $39.00 to $42.00 and gave the stock a neutral rating in a research note on Thursday, September 21st. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Fox Factory has an average rating of Hold and an average price target of $39.29.

Shares of Fox Factory (NASDAQ:FOXF) traded down $0.20 during trading hours on Friday, hitting $38.85. The stock had a trading volume of 216,524 shares, compared to its average volume of 264,883. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.48 and a quick ratio of 1.41. The firm has a market cap of $1,466.02, a price-to-earnings ratio of 30.12, a PEG ratio of 1.74 and a beta of 0.62. Fox Factory has a one year low of $25.25 and a one year high of $46.80.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Wednesday, November 1st. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Fox Factory had a return on equity of 28.25% and a net margin of 10.76%. The business had revenue of $127.40 million during the quarter, compared to the consensus estimate of $123.02 million. During the same quarter last year, the company earned $0.44 EPS. Fox Factory’s revenue was up 16.9% on a year-over-year basis. equities research analysts anticipate that Fox Factory will post 1.53 EPS for the current fiscal year.

In related news, CEO Larry L. Enterline sold 75,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $38.08, for a total transaction of $2,856,000.00. Following the sale, the chief executive officer now owns 124,934 shares in the company, valued at $4,757,486.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zvi Glasman sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $39.37, for a total value of $393,700.00. Following the sale, the chief financial officer now owns 160,331 shares in the company, valued at approximately $6,312,231.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,580 shares of company stock worth $4,626,046. Corporate insiders own 21.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. bought a new stake in Fox Factory in the second quarter valued at approximately $1,524,000. Royce & Associates LP grew its position in shares of Fox Factory by 6.6% in the second quarter. Royce & Associates LP now owns 200,600 shares of the company’s stock valued at $7,141,000 after purchasing an additional 12,500 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Fox Factory by 56.1% in the second quarter. TIAA CREF Investment Management LLC now owns 94,289 shares of the company’s stock valued at $3,357,000 after purchasing an additional 33,895 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Fox Factory by 7.3% in the second 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. Finally, The Manufacturers Life Insurance Company grew its position in shares of Fox Factory by 54.3% in the second quarter. The Manufacturers Life Insurance Company now owns 27,622 shares of the company’s stock valued at $984,000 after purchasing an additional 9,721 shares during the last quarter. Hedge funds and other institutional investors own 97.78% 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.

Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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