Fox Factory (NASDAQ:FOXF) PT Lowered to $45.00 at Stifel Nicolaus

Fox Factory (NASDAQ:FOXF - Free Report) had its price objective decreased by Stifel Nicolaus from $56.00 to $45.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the company. Truist Financial reduced their price target on Fox Factory from $90.00 to $60.00 and set a buy rating for the company in a report on Friday, February 23rd. Bank of America downgraded shares of Fox Factory from a buy rating to a neutral rating and set a $55.00 price target for the company. in a research report on Friday, February 23rd. Finally, StockNews.com cut shares of Fox Factory from a hold rating to a sell rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Fox Factory presently has a consensus rating of Hold and an average price target of $66.00.

Fox Factory Stock Down 1.9 %

NASDAQ:FOXF traded down $0.76 during trading hours on Wednesday, hitting $39.88. The stock had a trading volume of 766,351 shares, compared to its average volume of 606,160. The company has a market cap of $1.67 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 3.42 and a beta of 1.64. The business has a 50 day simple moving average of $50.28 and a two-hundred day simple moving average of $62.32. Fox Factory has a 1-year low of $39.17 and a 1-year high of $117.68. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.34). The firm had revenue of $332.50 million for the quarter, compared to analyst estimates of $327.07 million. Fox Factory had a net margin of 8.25% and a return on equity of 13.86%. Fox Factory's revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share. Analysts predict that Fox Factory will post 2.42 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Fox Factory during the 3rd quarter valued at about $1,950,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Fox Factory by 3.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 6,662 shares of the company's stock valued at $660,000 after acquiring an additional 213 shares during the period. Bank of New York Mellon Corp raised its stake in Fox Factory by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 440,251 shares of the company's stock valued at $43,620,000 after purchasing an additional 4,607 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Fox Factory by 26.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,065 shares of the company's stock valued at $700,000 after buying an additional 1,485 shares in the last quarter. Finally, Strs Ohio boosted its position in Fox Factory by 10.5% during the 3rd quarter. Strs Ohio now owns 4,200 shares of the company's stock worth $416,000 after acquiring an additional 400 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.