Fox Factory (NASDAQ:FOXF) Price Target Cut to $36.00 by Analysts at Roth Mkm

Fox Factory (NASDAQ:FOXF) had its price objective decreased by Roth Mkm from $45.00 to $36.00 in a research report report published on Friday, Benzinga reports. Roth Mkm currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. B. Riley reduced their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Bank of America dropped their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Truist Financial reduced their target price on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Robert W. Baird decreased their price target on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday. One 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’s stock. Based on data from MarketBeat, Fox Factory currently has a consensus rating of “Hold” and an average target price of $41.50.

Fox Factory Trading Down 1.3 %

NASDAQ FOXF opened at $33.58 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.61. Fox Factory has a 1-year low of $31.19 and a 1-year high of $70.13. The firm’s fifty day simple moving average is $39.47 and its 200-day simple moving average is $43.27. The company has a market capitalization of $1.40 billion, a PE ratio of 129.15, a price-to-earnings-growth ratio of 2.45 and a beta of 1.65.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The company had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. Fox Factory had a return on equity of 5.22% and a net margin of 0.78%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. As a group, sell-side analysts anticipate that Fox Factory will post 1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in Fox Factory by 6.9% during the 1st quarter. Sei Investments Co. now owns 223,173 shares of the company’s stock worth $11,621,000 after acquiring an additional 14,328 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in Fox Factory in the 2nd quarter valued at $626,000. SG Americas Securities LLC bought a new position in Fox Factory during the first quarter worth about $612,000. Motley Fool Asset Management LLC raised its position in shares of Fox Factory by 172.8% in the first quarter. Motley Fool Asset Management LLC now owns 41,704 shares of the company’s stock valued at $2,172,000 after buying an additional 26,416 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Fox Factory by 67.6% during the 1st quarter. Russell Investments Group Ltd. now owns 59,981 shares of the company’s stock valued at $3,123,000 after acquiring an additional 24,199 shares during the period.

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.