Fox Factory Holding Corp. (NASDAQ:FOXF) Stock Has Average Price Target of $20.50

Key Points

• Analyst sentiment is mixed: Seven firms collectively rate Fox Factory “Hold,” with an average 12-month price target of $20.50 versus the stock’s reported price of $14.79.
• Recent earnings exceeded expectations: Fox Factory reported quarterly EPS of $0.37, beating the $0.18 consensus estimate, while revenue of $358.12 million also topped forecasts. However, revenue declined 4.5% year over year and the company posted a negative net margin.
• Institutional ownership increased: Several investment firms raised their positions in Fox Factory during the second and third quarters, including GAMMA Investing, Versant Capital Management, Corient Private Wealth and UBS Asset Management.

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report) have been given an average recommendation of "Hold" by the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $20.50.

A number of analysts have issued reports on FOXF shares. Roth Capital reaffirmed a "neutral" rating and set a $17.00 price target on shares of Fox Factory in a report on Monday. Stifel Nicolaus set a $25.00 price objective on Fox Factory in a research report on Wednesday, September 30th. Bank of America cut Fox Factory from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $24.00 to $20.00 in a research report on Tuesday, June 30th. Fox Advisors set a $20.00 price objective on Fox Factory in a report on Tuesday, June 30th. Finally, Weiss Ratings upgraded Fox Factory from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, October 6th.

Hedge Funds Weigh In On Fox Factory

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Fox Factory by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,802 shares of the company's stock valued at $70,000 after acquiring an additional 1,456 shares during the period. Byrne Asset Management LLC purchased a new stake in Fox Factory in the 3rd quarter valued at $156,000. Versant Capital Management Inc raised its position in Fox Factory by 49.8% in the 3rd quarter. Versant Capital Management Inc now owns 3,054 shares of the company's stock valued at $56,000 after purchasing an additional 1,015 shares during the last quarter. Corient Private Wealth LP boosted its stake in Fox Factory by 11.1% during the 2nd quarter. Corient Private Wealth LP now owns 119,632 shares of the company's stock worth $2,027,000 after purchasing an additional 11,921 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Fox Factory by 6.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,487 shares of the company's stock worth $1,161,000 after purchasing an additional 4,383 shares during the period.

Fox Factory Price Performance

Shares of FOXF opened at $14.79 on Tuesday. The firm has a market capitalization of $621.62 million, a price-to-earnings ratio of -2.07, a PEG ratio of 0.44 and a beta of 1.41. The firm's fifty day simple moving average is $19.60 and its 200-day simple moving average is $18.34. Fox Factory has a twelve month low of $13.08 and a twelve month high of $25.43. The company has a current ratio of 3.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.96.

Fox Factory (NASDAQ:FOXF - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.19. The firm had revenue of $358.12 million during the quarter, compared to the consensus estimate of $352.94 million. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The company's revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Equities analysts forecast that Fox Factory will post 1.60 EPS for the current fiscal year.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures and markets performance products for the cycling, powersports and outdoor recreation markets. The company serves consumers, professional athletes and original equipment manufacturers through a portfolio of specialized brands and technologies.

Its products include bicycle suspension systems, forks, shocks, dropper posts, drivetrain and component products, protective equipment, apparel and related accessories. In powersports, Fox Factory offers suspension systems and performance components for motorcycles, off-road vehicles, snowmobiles and other recreational vehicles.

Fox Factory's principal brands have included FOX, FOX Racing, Marzocchi, Race Face, Easton Cycling and Ride Concepts.

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