Fox Factory Holding Corp (NASDAQ:FOXF) Given Consensus Recommendation of “Buy” by Brokerages

Fox Factory Holding Corp (NASDAQ:FOXF) has earned an average rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $75.83.

Several brokerages have recently issued reports on FOXF. Bank of America reiterated a “neutral” rating and issued a $86.00 target price (up previously from $78.00) on shares of Fox Factory in a research report on Thursday. Stifel Nicolaus lifted their target price on shares of Fox Factory from $72.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday. BidaskClub lowered shares of Fox Factory from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Friday. Finally, SunTrust Banks raised their price target on shares of Fox Factory to $70.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. They noted that the move was a valuation call.

In other news, CFO Zvi Glasman sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $82.50, for a total value of $412,500.00. Following the transaction, the chief financial officer now directly owns 20,284 shares of the company’s stock, valued at $1,673,430. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Tutton sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $75.94, for a total transaction of $151,880.00. Following the completion of the transaction, the insider now directly owns 30,445 shares in the company, valued at $2,311,993.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,865 shares of company stock worth $8,055,306. Insiders own 2.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Eukles Asset Management raised its stake in Fox Factory by 2.3% during the second quarter. Eukles Asset Management now owns 6,670 shares of the company’s stock worth $550,000 after purchasing an additional 147 shares during the period. State of Alaska Department of Revenue raised its stake in Fox Factory by 1.5% during the second quarter. State of Alaska Department of Revenue now owns 12,991 shares of the company’s stock worth $1,071,000 after purchasing an additional 188 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Fox Factory by 2.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 11,360 shares of the company’s stock worth $937,000 after purchasing an additional 220 shares during the period. Private Capital Group LLC raised its stake in Fox Factory by 78.0% during the first quarter. Private Capital Group LLC now owns 557 shares of the company’s stock worth $39,000 after purchasing an additional 244 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Fox Factory by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 14,713 shares of the company’s stock worth $1,028,000 after purchasing an additional 266 shares during the period. 99.46% of the stock is currently owned by institutional investors.

Shares of NASDAQ FOXF traded down $1.65 during trading on Friday, hitting $75.65. The company had a trading volume of 201,408 shares, compared to its average volume of 165,001. The firm’s fifty day simple moving average is $80.93. Fox Factory has a fifty-two week low of $49.97 and a fifty-two week high of $86.91. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 34.08, a price-to-earnings-growth ratio of 1.88 and a beta of 1.30. The company has a quick ratio of 1.29, a current ratio of 2.39 and a debt-to-equity ratio of 0.19.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Wednesday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.02. Fox Factory had a net margin of 12.45% and a return on equity of 30.92%. The business had revenue of $192.10 million for the quarter, compared to analyst estimates of $187.96 million. During the same quarter last year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Sell-side analysts predict that Fox Factory will post 2.62 EPS for the current year.

Fox Factory Company Profile

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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