Fox Factory (NASDAQ:FOXF) Stock Rating Upgraded by Stifel Nicolaus

Fox Factory (NASDAQ:FOXF) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat reports. The firm presently has a $40.00 price target on the stock. Stifel Nicolaus’ price target points to a potential upside of 24.42% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Truist Financial lowered their price target on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Bank of America dropped their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Robert W. Baird lowered their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Roth Mkm cut their target price on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.67.

Fox Factory Trading Down 2.0 %

Shares of Fox Factory stock opened at $32.15 on Wednesday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 123.65, a P/E/G ratio of 2.50 and a beta of 1.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The stock’s 50-day simple moving average is $35.17 and its 200 day simple moving average is $41.09. Fox Factory has a 52-week low of $30.13 and a 52-week high of $70.13.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The firm had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $366.86 million. During the same quarter last year, the firm earned $1.05 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that Fox Factory will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Fox Factory

A number of institutional investors have recently made changes to their positions in FOXF. D. E. Shaw & Co. Inc. lifted its stake in Fox Factory by 25.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock worth $32,483,000 after purchasing an additional 135,542 shares during the last quarter. Victory Capital Management Inc. increased its stake in Fox Factory by 223.3% in the 2nd quarter. Victory Capital Management Inc. now owns 42,119 shares of the company’s stock worth $2,030,000 after purchasing an additional 29,092 shares during the period. Disciplined Growth Investors Inc. MN bought a new stake in Fox Factory in the third quarter valued at approximately $5,743,000. Thrivent Financial for Lutherans lifted its position in Fox Factory by 89.0% in the third quarter. Thrivent Financial for Lutherans now owns 68,532 shares of the company’s stock valued at $2,844,000 after purchasing an additional 32,263 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in shares of Fox Factory by 1.5% during the second quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock valued at $44,019,000 after purchasing an additional 13,936 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.