Fox Factory (NASDAQ:FOXF) Stock Price Up 5.8%

Fox Factory Holding Corp. (NASDAQ:FOXF)’s share price shot up 5.8% during mid-day trading on Thursday . The stock traded as high as $53.31 and last traded at $53.09. 510,298 shares changed hands during trading, an increase of 6% from the average session volume of 480,370 shares. The stock had previously closed at $50.19.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FOXF shares. Truist Financial reduced their target price on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Bank of America downgraded shares of Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Friday, February 23rd. Stifel Nicolaus reduced their target price on shares of Fox Factory from $69.00 to $56.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. Finally, StockNews.com lowered shares of Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Fox Factory currently has an average rating of “Hold” and a consensus target price of $68.20.

Fox Factory Price Performance

The company has a quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.19 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 4.07 and a beta of 1.64. The business’s 50-day simple moving average is $57.72 and its two-hundred day simple moving average is $69.75.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). The firm had revenue of $332.50 million during the quarter, compared to analysts’ expectations of $327.07 million. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 earnings per share. Sell-side analysts expect that Fox Factory Holding Corp. will post 2.42 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in shares of Fox Factory during the fourth quarter worth approximately $29,000. Quest Partners LLC purchased a new position in Fox Factory during the 4th quarter valued at $31,000. Covestor Ltd increased its position in Fox Factory by 58.4% during the 1st quarter. Covestor Ltd now owns 358 shares of the company’s stock valued at $35,000 after purchasing an additional 132 shares during the period. Operose Advisors LLC purchased a new position in Fox Factory during the 3rd quarter valued at $37,000. Finally, Assetmark Inc. increased its position in Fox Factory by 171.4% during the 3rd quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after purchasing an additional 240 shares during the period.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.