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

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) rose 5.8% on Thursday . The company traded as high as $53.31 and last traded at $53.09. Approximately 510,298 shares were traded during mid-day trading, an increase of 6% from the average daily volume of 480,370 shares. The stock had previously closed at $50.19.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FOXF. Stifel Nicolaus decreased their target price on Fox Factory from $69.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Truist Financial cut their target price on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Bank of America lowered Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Friday, February 23rd. Finally, StockNews.com lowered Fox Factory from a “hold” rating to a “sell” rating in a 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 issued a buy rating to the company. According to MarketBeat.com, Fox Factory has a consensus rating of “Hold” and a consensus price target of $68.20.

Fox Factory Trading Up 3.7 %

The company has a market cap of $2.19 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 4.07 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70. The business’s 50 day moving average price is $57.72 and its 200-day moving average price is $69.75.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data 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). Fox Factory had a net margin of 8.25% and a return on equity of 13.86%. The business had revenue of $332.50 million during the quarter, compared to analyst estimates of $327.07 million. During the same quarter in the prior year, the company posted $1.43 EPS. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. On average, research analysts forecast that Fox Factory Holding Corp. will post 2.42 EPS for the current year.

Institutional Investors Weigh In On Fox Factory

Large investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Fox Factory by 1.3% during the 2nd quarter. BlackRock Inc. now owns 5,111,261 shares of the company’s stock worth $554,623,000 after acquiring an additional 64,353 shares during the last quarter. Vanguard Group Inc. grew its holdings in Fox Factory by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock worth $286,279,000 after acquiring an additional 46,132 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Fox Factory by 0.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock worth $364,229,000 after acquiring an additional 33,703 shares during the last quarter. FIL Ltd grew its holdings in Fox Factory by 99.4% during the 4th quarter. FIL Ltd now owns 1,695,034 shares of the company’s stock worth $114,381,000 after acquiring an additional 844,972 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Fox Factory by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,600,160 shares of the company’s stock worth $156,736,000 after acquiring an additional 4,061 shares during the last quarter.

Fox Factory Company Profile

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.