Fox Factory (NASDAQ:FOXF) Price Target Cut to $40.00 by Analysts at Truist Financial

Fox Factory (NASDAQ:FOXF) had its price target dropped by research analysts at Truist Financial from $42.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 34.05% from the stock’s previous close.

Several other research firms have also issued reports on FOXF. StockNews.com upgraded Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Robert W. Baird cut their target price on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Roth Mkm lowered their price target on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Bank of America cut their price objective on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.33.

Fox Factory Trading Down 1.0 %

Shares of NASDAQ FOXF traded down $0.31 during midday trading on Tuesday, hitting $29.84. The stock had a trading volume of 60,321 shares, compared to its average volume of 368,914. The company’s 50-day simple moving average is $32.01 and its 200 day simple moving average is $39.04. The firm has a market cap of $1.24 billion, a P/E ratio of 114.77, a price-to-earnings-growth ratio of 2.55 and a beta of 1.60. Fox Factory has a fifty-two week low of $28.33 and a fifty-two week high of $69.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62.

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

Institutional Trading of Fox Factory

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Fox Factory by 86.0% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after purchasing an additional 277 shares in the last quarter. Signaturefd LLC grew its position in shares of Fox Factory by 301.1% during the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after buying an additional 545 shares during the period. nVerses Capital LLC bought a new stake in shares of Fox Factory in the 3rd quarter valued at $42,000. KBC Group NV boosted its stake in Fox Factory by 36.5% during the third quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after acquiring an additional 368 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Fox Factory by 734.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,654 shares of the company’s stock worth $128,000 after purchasing an additional 2,336 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.