Fox Factory (NASDAQ:FOXF) Price Target Cut to $38.00 by Analysts at Jefferies Financial Group

Fox Factory (NASDAQ:FOXF) had its target price reduced by Jefferies Financial Group from $45.00 to $38.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on FOXF. Roth Mkm lowered their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, December 11th. Truist Financial lowered their price objective on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, 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 note on Friday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.14.

Fox Factory Stock Up 8.8 %

FOXF stock opened at $27.73 on Friday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 106.66, a PEG ratio of 1.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. Fox Factory has a one year low of $25.17 and a one year high of $54.85. The company has a 50 day moving average price of $27.88 and a two-hundred day moving average price of $33.83.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $352.84 million during the quarter, compared to analysts’ expectations 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 expect that Fox Factory will post 1.31 EPS for the current year.

Hedge Funds Weigh In On Fox Factory

Several hedge funds and other institutional investors have recently made changes to their positions in FOXF. Assenagon Asset Management S.A. lifted its holdings in shares of Fox Factory by 2.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 35,571 shares of the company’s stock valued at $1,476,000 after acquiring an additional 941 shares in the last quarter. US Bancorp DE lifted its holdings in Fox Factory by 2.6% in the 3rd quarter. US Bancorp DE now owns 42,844 shares of the company’s stock worth $1,778,000 after buying an additional 1,099 shares in the last quarter. D.B. Root & Company LLC lifted its holdings in Fox Factory by 24.7% in the 3rd quarter. D.B. Root & Company LLC now owns 6,060 shares of the company’s stock worth $251,000 after buying an additional 1,199 shares in the last quarter. Malaga Cove Capital LLC lifted its holdings in Fox Factory by 28.5% in the 3rd quarter. Malaga Cove Capital LLC now owns 12,050 shares of the company’s stock worth $500,000 after buying an additional 2,671 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Fox Factory by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 42,891 shares of the company’s stock worth $1,780,000 after buying an additional 772 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.