Fox Factory Holding Corp. (NASDAQ:FOXF) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Fox Factory Holding Corp. (NASDAQ:FOXF) has received a consensus recommendation of "Hold" from analysts, with an average 1-year target price of $36.43.
• Recent analyst ratings include a price target reduction by Stifel Nicolaus from $40.00 to $34.00, while Truist Financial raised their target from $28.00 to $34.00.
• The company reported a quarterly EPS of $0.23, beating estimates, and had a revenue increase of 6.5% year-over-year.

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report) has received an average rating of "Hold" from the seven analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $36.43.

Several analysts recently weighed in on FOXF shares. Stifel Nicolaus dropped their price objective on Fox Factory from $40.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Robert W. Baird lowered their target price on Fox Factory from $32.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Finally, Truist Financial raised their price target on shares of Fox Factory from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th.

Hedge Funds Weigh In On Fox Factory

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC boosted its stake in shares of Fox Factory by 76.2% during the first quarter. CWM LLC now owns 1,341 shares of the company's stock valued at $31,000 after purchasing an additional 580 shares in the last quarter. Versant Capital Management Inc raised its holdings in Fox Factory by 142.8% in the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company's stock valued at $32,000 after buying an additional 807 shares during the last quarter. GAMMA Investing LLC boosted its position in Fox Factory by 254.1% during the 1st quarter. GAMMA Investing LLC now owns 1,696 shares of the company's stock worth $40,000 after buying an additional 1,217 shares during the period. Quarry LP bought a new stake in Fox Factory during the 4th quarter worth approximately $45,000. Finally, First Horizon Advisors Inc. increased its position in Fox Factory by 113.8% in the 1st quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company's stock valued at $46,000 after acquiring an additional 1,038 shares during the period.

Fox Factory Stock Performance

Shares of Fox Factory stock opened at $30.18 on Friday. The company has a current ratio of 3.18, a quick ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.26 billion, a PE ratio of -5.04 and a beta of 1.50. The company has a 50 day moving average of $26.44 and a 200-day moving average of $25.26. Fox Factory has a 1-year low of $17.95 and a 1-year high of $54.85.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $355.03 million during the quarter, compared to the consensus estimate of $330.71 million. Fox Factory had a negative net margin of 17.64% and a positive return on equity of 4.70%. The company's revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share. As a group, equities research analysts forecast that Fox Factory will post 1.31 earnings per share for the current fiscal year.

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.

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