Brokerages Set Fox Factory Holding Corp. (NASDAQ:FOXF) Target Price at $39.14

Fox Factory Holding Corp. (NASDAQ:FOXF) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $39.14.

Several equities research analysts have issued reports on the company. Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, December 11th. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Robert W. Baird lowered their price objective on shares of Fox Factory from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Jefferies Financial Group cut their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Truist Financial lowered their target price on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th.

Fox Factory Stock Down 1.6 %

Fox Factory stock opened at $25.74 on Friday. Fox Factory has a fifty-two week low of $23.91 and a fifty-two week high of $54.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 99.00, a PEG ratio of 1.45 and a beta of 1.65. The company’s 50 day simple moving average is $26.50 and its 200 day simple moving average is $31.82.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $352.84 million during the quarter, compared to analyst estimates of $321.31 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. As a group, sell-side analysts anticipate that Fox Factory will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Fox Factory

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOXF. William Blair Investment Management LLC grew its holdings in shares of Fox Factory by 17.1% in 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 in the last quarter. RWWM Inc. increased its position in shares of Fox Factory by 174.0% during the 4th quarter. RWWM Inc. now owns 1,997,531 shares of the company’s stock worth $60,465,000 after purchasing an additional 1,268,460 shares during the last quarter. State Street Corp raised its stake in shares of Fox Factory by 0.4% during the 3rd quarter. State Street Corp now owns 1,596,222 shares of the company’s stock worth $66,243,000 after purchasing an additional 6,308 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Fox Factory by 6,413.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,352,242 shares of the company’s stock valued at $40,932,000 after buying an additional 1,331,480 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Fox Factory by 21.8% in the fourth quarter. Capital World Investors now owns 1,341,155 shares of the company’s stock valued at $40,597,000 after buying an additional 240,416 shares in the last quarter.

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.