Fox Factory (NASDAQ:FOXF) Stock Price Up 7.6%

Fox Factory Holding Corp. (NASDAQ:FOXF) shares were up 7.6% during mid-day trading on Thursday . The company traded as high as $42.74 and last traded at $42.66. Approximately 198,730 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 592,905 shares. The stock had previously closed at $39.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FOXF shares. Bank of America decreased their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Robert W. Baird decreased their target price on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Truist Financial decreased their target price on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, B. Riley decreased their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.17.

Fox Factory Stock Up 9.4 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 2.48 and a beta of 1.63. The stock’s fifty day simple moving average is $42.98 and its two-hundred day simple moving average is $45.18.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The company had revenue of $348.49 million during the quarter, compared to the consensus estimate of $346.22 million. During the same period in the prior year, the company earned $1.21 EPS. Fox Factory’s revenue was down 13.0% on a year-over-year basis. On average, sell-side analysts anticipate that Fox Factory Holding Corp. will post 1.56 EPS for the current year.

Insider Buying and Selling at Fox Factory

In other news, CEO Michael C. Dennison acquired 4,800 shares of Fox Factory stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $41.44 per share, with a total value of $198,912.00. Following the completion of the purchase, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Trading of Fox Factory

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Fox Factory by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Fox Factory by 25,005.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after purchasing an additional 1,578,822 shares during the period. Clearbridge Investments LLC increased its holdings in Fox Factory by 0.6% in the first quarter. Clearbridge Investments LLC now owns 1,230,987 shares of the company’s stock worth $64,097,000 after buying an additional 7,468 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Fox Factory in the second quarter worth approximately $53,294,000. Finally, Van Berkom & Associates Inc. increased its holdings in Fox Factory by 1.5% in the second quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock worth $44,019,000 after buying an additional 13,936 shares during 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.