Fox Factory (NASDAQ:FOXF) Downgraded by BidaskClub to Buy

BidaskClub lowered shares of Fox Factory (NASDAQ:FOXF) from a strong-buy rating to a buy rating in a report issued on Thursday morning, BidAskClub reports.

Several other equities research analysts have also recently commented on FOXF. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. SunTrust Banks boosted their target price on Markel to $1,100.00 and gave the stock a hold rating in a report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $69.17.

FOXF opened at $80.94 on Thursday. The company’s 50 day simple moving average is $75.57. The company has a market capitalization of $3.09 billion, a PE ratio of 33.59, a PEG ratio of 1.90 and a beta of 1.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.29 and a current ratio of 2.39. Fox Factory has a twelve month low of $47.15 and a twelve month high of $85.04.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.07. The company had revenue of $161.70 million for the quarter, compared to analysts’ expectations of $156.30 million. Fox Factory had a return on equity of 30.57% and a net margin of 12.43%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. On average, equities analysts forecast that Fox Factory will post 2.6 earnings per share for the current fiscal year.

In related news, CEO Larry L. Enterline sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $67.41, for a total transaction of $6,741,000.00. Following the sale, the chief executive officer now owns 5,652 shares of the company’s stock, valued at $381,001.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher Tutton sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $75.94, for a total value of $151,880.00. Following the sale, the insider now directly owns 30,445 shares in the company, valued at approximately $2,311,993.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,865 shares of company stock worth $8,055,306. 2.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Private Capital Group LLC grew its position in Fox Factory by 78.0% in the first quarter. Private Capital Group LLC now owns 557 shares of the company’s stock worth $39,000 after buying an additional 244 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Fox Factory by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,713 shares of the company’s stock worth $1,028,000 after buying an additional 266 shares during the last quarter. Legal & General Group Plc grew its position in Fox Factory by 0.4% in the fourth quarter. Legal & General Group Plc now owns 88,508 shares of the company’s stock worth $5,241,000 after buying an additional 334 shares during the last quarter. Advisor Group Inc. grew its position in Fox Factory by 11.7% in the fourth quarter. Advisor Group Inc. now owns 3,440 shares of the company’s stock worth $203,000 after buying an additional 361 shares during the last quarter. Finally, Mason Street Advisors LLC grew its position in Fox Factory by 3.4% in the first quarter. Mason Street Advisors LLC now owns 12,200 shares of the company’s stock worth $853,000 after buying an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

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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Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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