Fox Factory (NASDAQ:FOXF) Given New $50.00 Price Target at Truist Financial

Fox Factory (NASDAQ:FOXF - Get Free Report) had its price objective dropped by stock analysts at Truist Financial from $60.00 to $50.00 in a report released on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective points to a potential upside of 14.89% from the company's previous close.

Several other analysts have also issued reports on FOXF. StockNews.com lowered Fox Factory from a "hold" rating to a "sell" rating in a report on Monday, February 26th. Bank of America lowered shares of Fox Factory from a "buy" rating to a "neutral" rating and set a $55.00 target price on the stock. in a report on Friday, February 23rd. Robert W. Baird cut their price target on shares of Fox Factory from $55.00 to $48.00 and set a "neutral" rating for the company in a report on Friday. Roth Mkm decreased their price objective on shares of Fox Factory from $55.00 to $45.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Stifel Nicolaus cut their target price on Fox Factory from $56.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $48.00.

Fox Factory Stock Performance

Shares of FOXF traded up $4.10 during midday trading on Friday, reaching $43.52. 1,149,486 shares of the stock were exchanged, compared to its average volume of 620,947. The company has a quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. The stock's 50 day simple moving average is $46.53 and its 200 day simple moving average is $60.13. Fox Factory has a twelve month low of $37.98 and a twelve month high of $117.68. The company has a market cap of $1.83 billion, a P/E ratio of 15.04, a PEG ratio of 3.27 and a beta of 1.68.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.10. Fox Factory had a net margin of 8.25% and a return on equity of 13.86%. The firm had revenue of $333.50 million during the quarter, compared to the consensus estimate of $327.58 million. During the same quarter in the previous year, the firm posted $1.20 EPS. The business's revenue for the quarter was down 16.6% compared to the same quarter last year. On average, sell-side analysts expect that Fox Factory will post 2.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Zions Bancorporation N.A. raised its position in Fox Factory by 8.6% during the 3rd quarter. Zions Bancorporation N.A. now owns 12,542 shares of the company's stock worth $1,243,000 after purchasing an additional 991 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Fox Factory by 0.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company's stock valued at $364,229,000 after acquiring an additional 33,703 shares during the last quarter. CVA Family Office LLC acquired a new stake in Fox Factory during the 4th quarter valued at approximately $55,000. VELA Investment Management LLC raised its holdings in Fox Factory by 56.6% during the 4th quarter. VELA Investment Management LLC now owns 18,302 shares of the company's stock worth $1,235,000 after purchasing an additional 6,613 shares during the last quarter. Finally, Brookstone Capital Management lifted its position in shares of Fox Factory by 29.6% in the 4th quarter. Brookstone Capital Management now owns 6,437 shares of the company's stock worth $434,000 after purchasing an additional 1,472 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.