Fox Factory (NASDAQ:FOXF) Shares Up 7.3% - What's Next?

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report)'s stock price was up 7.3% during mid-day trading on Tuesday . The company traded as high as $27.53 and last traded at $27.83. Approximately 93,865 shares traded hands during trading, a decline of 84% from the average daily volume of 590,364 shares. The stock had previously closed at $25.94.

Analyst Ratings Changes

Several research firms have commented on FOXF. Truist Financial increased their target price on shares of Fox Factory from $28.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Stifel Nicolaus decreased their price objective on shares of Fox Factory from $40.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Robert W. Baird reduced their price target on shares of Fox Factory from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $36.43.

Fox Factory Trading Up 9.2%

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.36 and a current ratio of 3.18. The stock has a fifty day moving average of $24.27 and a 200 day moving average of $25.43. The company has a market capitalization of $1.18 billion, a PE ratio of -4.75 and a beta of 1.52.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. RWWM Inc. increased its holdings in shares of Fox Factory by 79.0% during the first quarter. RWWM Inc. now owns 3,576,560 shares of the company's stock valued at $83,477,000 after purchasing an additional 1,579,029 shares during the period. William Blair Investment Management LLC raised its position in shares of Fox Factory by 17.1% during the 4th quarter. William Blair Investment Management LLC now owns 2,983,482 shares of the company's stock valued at $90,310,000 after acquiring an additional 434,998 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Fox Factory by 4.2% during the first quarter. The Manufacturers Life Insurance Company now owns 1,409,387 shares of the company's stock worth $32,895,000 after acquiring an additional 57,145 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Fox Factory by 6,413.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,352,242 shares of the company's stock valued at $40,932,000 after purchasing an additional 1,331,480 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of Fox Factory by 21.8% during the 4th quarter. Capital World Investors now owns 1,341,155 shares of the company's stock worth $40,597,000 after acquiring an additional 240,416 shares during the period.

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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