Truist Financial Issues Pessimistic Forecast for Fox Factory (NASDAQ:FOXF) Stock Price

Fox Factory (NASDAQ:FOXFFree Report) had its price objective reduced by Truist Financial from $42.00 to $40.00 in a report issued on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts also recently commented on the company. Robert W. Baird decreased their target price on Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Bank of America reduced their price objective on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Roth Mkm cut their target price on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Finally, Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fox Factory has an average rating of “Hold” and a consensus price target of $40.33.

Get Our Latest Stock Analysis on FOXF

Fox Factory Trading Down 2.5 %

NASDAQ:FOXF opened at $28.86 on Tuesday. Fox Factory has a 52 week low of $28.28 and a 52 week high of $69.46. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $1.20 billion, a PE ratio of 111.00, a P/E/G ratio of 2.55 and a beta of 1.60. The business’s 50 day moving average is $31.69 and its two-hundred day moving average is $38.82.

Fox Factory (NASDAQ:FOXFGet Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The business had revenue of $359.10 million during the quarter, compared to analyst estimates of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. On average, analysts predict that Fox Factory will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in Fox Factory by 25,005.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after buying an additional 1,578,822 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Fox Factory during the second quarter valued at approximately $53,294,000. JPMorgan Chase & Co. lifted its position in shares of Fox Factory by 271.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company’s stock valued at $7,921,000 after acquiring an additional 139,512 shares in the last quarter. Disciplined Growth Investors Inc. MN purchased a new position in Fox Factory during the 3rd quarter worth approximately $5,743,000. Finally, D. E. Shaw & Co. Inc. raised its stake in Fox Factory by 25.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock valued at $32,483,000 after purchasing an additional 135,542 shares during the period.

Fox Factory Company Profile

(Get Free Report)

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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