Fox Factory (FOXF) PT Raised to $68.00 at Jefferies Financial Group

Fox Factory (NASDAQ:FOXF) had its price objective lifted by Jefferies Financial Group from $65.00 to $68.00 in a report published on Thursday. Jefferies Financial Group currently has a buy rating on the stock. Jefferies Financial Group also issued estimates for Fox Factory’s Q4 2018 earnings at $0.56 EPS, FY2018 earnings at $2.21 EPS and FY2019 earnings at $2.52 EPS.

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Fox Factory from a buy rating to a hold rating in a report on Wednesday, July 4th. Robert W. Baird raised their target price on shares of Fox Factory from $42.00 to $52.00 and gave the stock a neutral rating in a report on Tuesday, July 24th. Stifel Nicolaus raised their target price on shares of Fox Factory from $42.00 to $55.00 and gave the stock a hold rating in a report on Thursday, August 2nd. Bank of America raised their target price on shares of Fox Factory from $53.00 to $60.00 and gave the stock a buy rating in a report on Thursday, August 2nd. Finally, ValuEngine upgraded shares of Fox Factory from a buy rating to a strong-buy rating in a report on Friday, August 3rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $63.83.

Shares of NASDAQ:FOXF traded up $0.74 during mid-day trading on Thursday, reaching $63.92. The stock had a trading volume of 388,348 shares, compared to its average volume of 295,578. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 1.73 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.10 and a quick ratio of 1.20. Fox Factory has a twelve month low of $33.20 and a twelve month high of $73.10.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $175.80 million for the quarter, compared to the consensus estimate of $173.33 million. Fox Factory had a net margin of 11.43% and a return on equity of 29.77%. Fox Factory’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. Equities research analysts expect that Fox Factory will post 2.2 earnings per share for the current year.

In other news, insider Christopher Tutton sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $63.79, for a total transaction of $191,370.00. Following the completion of the transaction, the insider now directly owns 39,485 shares of the company’s stock, valued at approximately $2,518,748.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William H. Katherman sold 7,287 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $63.02, for a total transaction of $459,226.74. Following the transaction, the senior vice president now directly owns 34,186 shares of the company’s stock, valued at $2,154,401.72. The disclosure for this sale can be found here. Insiders have sold a total of 175,216 shares of company stock worth $11,906,170 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FOXF. BlackRock Inc. grew its stake in shares of Fox Factory by 10.8% during the 2nd quarter. BlackRock Inc. now owns 5,233,996 shares of the company’s stock worth $243,642,000 after acquiring an additional 511,948 shares in the last quarter. Copper Rock Capital Partners LLC grew its stake in shares of Fox Factory by 777.3% during the 3rd quarter. Copper Rock Capital Partners LLC now owns 320,783 shares of the company’s stock worth $22,455,000 after acquiring an additional 284,217 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Fox Factory by 43.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 866,320 shares of the company’s stock worth $40,327,000 after acquiring an additional 263,434 shares in the last quarter. FMR LLC grew its stake in shares of Fox Factory by 40.3% during the 2nd quarter. FMR LLC now owns 811,400 shares of the company’s stock worth $37,771,000 after acquiring an additional 233,100 shares in the last quarter. Finally, WINTON GROUP Ltd grew its stake in shares of Fox Factory by 966.1% during the 3rd quarter. WINTON GROUP Ltd now owns 216,601 shares of the company’s stock worth $15,173,000 after acquiring an additional 196,283 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.

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