Fox Factory Holding Corp (FOXF) Given Consensus Rating of “Buy” by Brokerages

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Shares of Fox Factory Holding Corp (NASDAQ:FOXF) have received a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $60.83.

FOXF has been the subject of several recent analyst reports. ValuEngine cut Fox Factory from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research raised Fox Factory from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Thursday, July 5th. BidaskClub cut Fox Factory from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. Bank of America raised their target price on Fox Factory from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Finally, Jefferies Financial Group raised their target price on Fox Factory from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd.

Shares of NASDAQ:FOXF traded up $9.50 during midday trading on Thursday, hitting $63.23. The company had a trading volume of 31,743 shares, compared to its average volume of 249,576. Fox Factory has a twelve month low of $33.20 and a twelve month high of $73.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 2.18. The stock has a market cap of $1.95 billion, a PE ratio of 39.74, a P/E/G ratio of 1.47 and a beta of 0.81.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. Fox Factory had a return on equity of 27.73% and a net margin of 10.93%. The firm had revenue of $175.80 million during the quarter, compared to analysts’ expectations of $173.33 million. During the same quarter last year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was up 38.0% on a year-over-year basis. As a group, analysts predict that Fox Factory will post 2.09 earnings per share for the current fiscal year.

In other news, CEO Larry L. Enterline sold 22,401 shares of Fox Factory stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $70.14, for a total value of $1,571,206.14. Following the completion of the sale, the chief executive officer now directly owns 60,519 shares of the company’s stock, valued at $4,244,802.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Tutton sold 3,000 shares of Fox Factory stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $63.79, for a total value of $191,370.00. Following the completion of the sale, the insider now directly owns 39,485 shares of the company’s stock, valued at $2,518,748.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,216 shares of company stock valued at $11,906,170. 5.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Fox Factory by 10.8% in the second quarter. BlackRock Inc. now owns 5,233,996 shares of the company’s stock valued at $243,642,000 after buying an additional 511,948 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Fox Factory by 6.5% in the second quarter. Conestoga Capital Advisors LLC now owns 1,896,466 shares of the company’s stock valued at $88,280,000 after buying an additional 115,750 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Fox Factory by 11.7% in the second quarter. Van Berkom & Associates Inc. now owns 1,645,234 shares of the company’s stock valued at $76,586,000 after buying an additional 172,070 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Fox Factory by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,338,548 shares of the company’s stock valued at $46,715,000 after buying an additional 8,206 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Fox Factory by 5.0% in the second quarter. Janus Henderson Group PLC now owns 903,258 shares of the company’s stock valued at $42,047,000 after purchasing an additional 42,919 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.

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Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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