Fox Factory Holding Corp. (NASDAQ:FOXF) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts give Fox Factory an average rating of "Hold" from seven analysts (1 sell, 3 hold, 2 buy, 1 strong buy), with an average 12-month price target of $27.25.
• Fox Factory beat last quarter's estimates—$0.20 EPS vs. $0.14 expected and $361.07M revenue vs. $353.88M expected—but reported a negative net margin of 37.11% despite a 5.06% ROE; analysts project 1.44 EPS for the fiscal year.
• The stock opened at $17.70 (market cap ~$742M), trades below its 200-day SMA ($18.10) with a 50-day SMA of $17.25, and has a one-year range of $13.08–$31.18.

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report) has received an average recommendation of "Hold" from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $27.25.

Several equities analysts have recently weighed in on FOXF shares. Roth Mkm decreased their target price on Fox Factory from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 6th. Zacks Research upgraded Fox Factory from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 5th. Weiss Ratings restated a "sell (d)" rating on shares of Fox Factory in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus set a $24.00 target price on Fox Factory in a research report on Thursday, April 16th.

Institutional Investors Weigh In On Fox Factory

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS increased its holdings in shares of Fox Factory by 9.2% in the third quarter. KLP Kapitalforvaltning AS now owns 8,300 shares of the company's stock valued at $202,000 after purchasing an additional 700 shares during the last quarter. Engineers Gate Manager LP increased its holdings in shares of Fox Factory by 1.1% in the fourth quarter. Engineers Gate Manager LP now owns 73,895 shares of the company's stock valued at $1,264,000 after purchasing an additional 770 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Fox Factory by 12.3% in the second quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company's stock valued at $203,000 after purchasing an additional 858 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Fox Factory in the third quarter valued at approximately $25,000. Finally, Resona Asset Management Co. Ltd. increased its holdings in shares of Fox Factory by 33.3% in the fourth quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company's stock valued at $73,000 after purchasing an additional 1,035 shares during the last quarter.

Fox Factory Stock Performance

NASDAQ FOXF opened at $17.70 on Monday. The company has a market cap of $742.16 million, a PE ratio of -1.36 and a beta of 1.46. The stock's 50 day simple moving average is $17.25 and its 200-day simple moving average is $18.10. Fox Factory has a 1-year low of $13.08 and a 1-year high of $31.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.86 and a quick ratio of 1.37.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $361.07 million for the quarter, compared to the consensus estimate of $353.88 million. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. As a group, equities research analysts anticipate that Fox Factory will post 1.44 EPS for the current fiscal year.

About Fox Factory

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company's FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.

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