Fox Factory (NASDAQ:FOXF) Price Target Cut to $48.00 by Analysts at Robert W. Baird

Fox Factory (NASDAQ:FOXF) had its target price cut by Robert W. Baird from $55.00 to $48.00 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently issued reports on FOXF. Truist Financial decreased their price objective on shares of Fox Factory from $90.00 to $60.00 and set a buy rating for the company in a report on Friday, February 23rd. Stifel Nicolaus cut their price objective on Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a research note on Wednesday, April 24th. StockNews.com cut Fox Factory from a hold rating to a sell rating in a research report on Monday, February 26th. Finally, Bank of America lowered shares of Fox Factory from a buy rating to a neutral rating and set a $55.00 price target on the stock. in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $48.00.

Fox Factory Stock Up 10.4 %

Shares of Fox Factory stock traded up $4.10 on Friday, hitting $43.52. 1,149,487 shares of the company traded hands, compared to its average volume of 638,720. The company has a quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. Fox Factory has a 12-month low of $37.98 and a 12-month high of $117.68. The company has a 50-day moving average price of $46.45 and a 200 day moving average price of $59.78. The company has a market cap of $1.83 billion, a PE ratio of 24.31, a PEG ratio of 3.32 and a beta of 1.68.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a return on equity of 10.50% and a net margin of 5.41%. The company had revenue of $333.50 million during the quarter, compared to the consensus estimate of $327.58 million. During the same period last year, the business earned $1.20 EPS. The business’s quarterly revenue was down 16.6% on a year-over-year basis. Sell-side analysts predict that Fox Factory will post 2.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FOXF. GAMMA Investing LLC acquired a new position in Fox Factory during the 4th quarter valued at $29,000. Quest Partners LLC bought a new position in Fox Factory during the 4th quarter valued at about $31,000. Operose Advisors LLC bought a new stake in Fox Factory during the third quarter worth about $37,000. Assetmark Inc. increased its holdings in shares of Fox Factory by 171.4% during the third quarter. Assetmark Inc. now owns 380 shares of the company’s stock worth $38,000 after buying an additional 240 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Fox Factory by 54.1% in the 4th quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after acquiring an additional 219 shares in the last quarter.

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.