Fox Factory Holding Corp. (NASDAQ:FOXF) Stock Has Average Target Price of $19.60 According to Analysts

Key Points

• Analyst sentiment is mixed: Seven brokerages rate Fox Factory “Hold” on average, with a one-year average price target of $19.60. Ratings include two sells, three holds, one buy, and one strong buy.
• Fox Factory reported quarterly EPS of $0.54, topping the $0.32 consensus estimate, while revenue of $338.41 million slightly exceeded forecasts. Revenue was down 10.1% year over year.
• The stock opened at $17.45, within its 12-month range of $13.08 to $22.09. An insider also sold 1,375 shares at an average price of $18.43.

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report) has been given an average recommendation of "Hold" by the seven brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $19.60.

A number of brokerages recently weighed in on FOXF. Stifel Nicolaus set a $25.00 price target on shares of Fox Factory in a research report on Wednesday, September 30th. Weiss Ratings upgraded shares of Fox Factory from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, October 6th. B. Riley Financial lowered their target price on shares of Fox Factory from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, October 19th. Zacks Research lowered shares of Fox Factory from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 20th. Finally, Roth Capital reiterated a "neutral" rating and issued a $17.00 target price on shares of Fox Factory in a report on Monday, October 19th.

Insider Activity at Fox Factory

In related news, insider Toby D. Merchant sold 1,375 shares of the company's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $18.43, for a total value of $25,341.25. Following the completion of the sale, the insider owned 56,384 shares in the company, valued at $1,039,157.12. This represents a 2.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in Fox Factory in the third quarter valued at about $3,580,000. Steward Partners Investment Advisory LLC raised its position in shares of Fox Factory by 3.0% during the third quarter. Steward Partners Investment Advisory LLC now owns 70,850 shares of the company's stock worth $1,302,000 after purchasing an additional 2,054 shares during the period. Boston Partners raised its position in shares of Fox Factory by 69.3% during the third quarter. Boston Partners now owns 97,735 shares of the company's stock worth $1,795,000 after purchasing an additional 39,997 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Fox Factory during the third quarter worth about $186,000. Finally, Royce & Associates LP lifted its holdings in shares of Fox Factory by 1.7% during the 3rd quarter. Royce & Associates LP now owns 866,806 shares of the company's stock valued at $15,923,000 after purchasing an additional 14,417 shares in the last quarter.

Fox Factory Trading Up 0.8%

NASDAQ FOXF opened at $17.45 on Friday. Fox Factory has a 12 month low of $13.08 and a 12 month high of $22.09. The stock has a 50-day simple moving average of $17.83 and a 200 day simple moving average of $18.06. The company has a current ratio of 2.82, a quick ratio of 1.37 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $733.42 million, a PE ratio of -1.79, a P/E/G ratio of 1.05 and a beta of 1.39.

Fox Factory (NASDAQ:FOXF - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.22. The firm had revenue of $338.41 million for the quarter, compared to analysts' expectations of $337.56 million. Fox Factory had a positive return on equity of 8.43% and a negative net margin of 28.58%. The company's revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. Research analysts forecast that Fox Factory will post 1.12 EPS for the current year.

About Fox Factory

Fox Factory Holding Corp. designs, engineers and manufactures ride-dynamics and performance products for vehicles and outdoor recreation. Its offerings include suspension systems and components used in mountain bikes, motorcycles, off-road vehicles, trucks and other applications. The company sells products under brands including FOX, Marzocchi, Race Face and Easton. Its portfolio serves original equipment manufacturers as well as aftermarket customers, with products distributed in markets around the world.

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