Fox Factory Holding Corp. (NASDAQ:FOXF) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts give Fox Factory a “Moderate Buy” consensus across six brokerages, with an average 12-month price target of $21.00 versus the stock’s reported price of $18.52.
• Recent ratings were mixed: Bank of America downgraded the stock to “underperform,” while Needham maintained a “buy” rating and Zacks Research upgraded it to “strong buy.”
• Fox Factory beat quarterly earnings expectations, reporting $0.37 EPS and $358.12 million in revenue, although revenue declined 4.5% year over year and the company posted a negative net margin.

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.00.

A number of research analysts have recently weighed in on the stock. Fox Advisors set a $20.00 price objective on shares of Fox Factory in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Fox Factory in a research note on Friday, August 7th. Needham & Company LLC reaffirmed a "buy" rating on shares of Fox Factory in a research report on Wednesday, June 3rd. Bank of America lowered shares of Fox Factory from a "neutral" rating to an "underperform" rating and cut their price target for the company from $24.00 to $20.00 in a report on Tuesday, June 30th. Finally, Zacks Research upgraded Fox Factory from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 31st.

Institutional Trading of Fox Factory

Several large investors have recently bought and sold shares of the company. Empowered Funds LLC acquired a new position in Fox Factory in the 2nd quarter worth $7,390,000. Quantinno Capital Management LP grew its stake in shares of Fox Factory by 216.8% during the first quarter. Quantinno Capital Management LP now owns 163,635 shares of the company's stock valued at $2,693,000 after acquiring an additional 111,976 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Fox Factory in the second quarter worth about $4,032,000. BlackRock Inc. purchased a new position in Fox Factory in the second quarter valued at about $109,706,000. Finally, RWWM Inc. boosted its holdings in Fox Factory by 4.7% in the first quarter. RWWM Inc. now owns 5,533,072 shares of the company's stock valued at $91,074,000 after purchasing an additional 247,635 shares during the last quarter.

Fox Factory Trading Down 0.8%

Shares of FOXF opened at $18.52 on Friday. The firm has a market capitalization of $778.41 million, a P/E ratio of -2.59, a PEG ratio of 0.55 and a beta of 1.38. The company has a current ratio of 3.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.96. The firm's 50-day moving average is $19.89 and its two-hundred day moving average is $18.15. Fox Factory has a twelve month low of $13.08 and a twelve month high of $26.01.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.19. Fox Factory had a positive return on equity of 5.57% and a negative net margin of 20.39%.The firm had revenue of $358.12 million during the quarter, compared to the consensus estimate of $352.94 million. During the same period last year, the business posted $0.40 EPS. Fox Factory's quarterly revenue was down 4.5% on a year-over-year basis. On average, research analysts predict that Fox Factory will post 1.53 earnings per share for the current fiscal year.

About Fox Factory

Fox Factory Holding Corp. NASDAQ: FOXF designs, engineers and manufactures performance products for the cycling, powersports and specialty vehicle markets. The company's offerings are intended for applications ranging from mountain biking and racing to off-road driving, snowmobiling and other recreational activities.

Its product portfolio includes suspension forks, shocks, dropper seatposts, wheels, drivetrain components, protective equipment, apparel and other vehicle accessories. Fox Factory sells products under brands that include FOX, Marzocchi, Race Face, Easton Cycling, Ride Concepts and RockyMounts.

Founded in 1974 by Bob Fox, the company began with suspension technology and expanded through product development and acquisitions into a broader portfolio of performance brands.

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