Fox Factory (NASDAQ:FOXF) PT Lowered to $48.00 at Bank of America

Fox Factory (NASDAQ:FOXF) had its target price lowered by Bank of America from $55.00 to $48.00 in a report published on Monday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

FOXF has been the topic of a number of other reports. Roth Mkm decreased their price target on Fox Factory from $55.00 to $45.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. B. Riley dropped their price target on shares of Fox Factory from $50.00 to $45.00 and set a neutral rating for the company in a research report on Friday, May 3rd. Robert W. Baird decreased their price target on shares of Fox Factory from $55.00 to $48.00 and set a neutral rating on the stock in a report on Friday, May 3rd. Truist Financial dropped their price objective on Fox Factory from $60.00 to $50.00 and set a buy rating for the company in a report on Friday, May 3rd. Finally, Stifel Nicolaus reduced their target price on Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $46.83.

Fox Factory Price Performance

Shares of NASDAQ FOXF opened at $47.46 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43. Fox Factory has a one year low of $37.98 and a one year high of $117.68. The firm has a market capitalization of $1.98 billion, a P/E ratio of 26.51, a PEG ratio of 3.66 and a beta of 1.68. The company’s fifty day moving average is $46.07 and its two-hundred day moving average is $58.53.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. The firm had revenue of $333.50 million during the quarter, compared to analysts’ expectations of $327.58 million. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. Fox Factory’s revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. Analysts forecast that Fox Factory will post 2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FOXF. Vanguard Group Inc. boosted its holdings in shares of Fox Factory by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock worth $286,279,000 after buying an additional 46,132 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Fox Factory by 0.9% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock valued at $364,229,000 after acquiring an additional 33,703 shares during the period. FMR LLC grew its position in shares of Fox Factory by 46.2% in the third quarter. FMR LLC now owns 1,136,720 shares of the company’s stock valued at $112,626,000 after purchasing an additional 359,168 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in shares of Fox Factory by 0.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,134,439 shares of the company’s stock valued at $76,552,000 after purchasing an additional 3,935 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Fox Factory by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 821,862 shares of the company’s stock worth $55,461,000 after purchasing an additional 12,474 shares during the period.

About Fox Factory

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.