Fox Factory (NASDAQ:FOXF) Given New $25.00 Price Target at Robert W. Baird

Fox Factory (NASDAQ:FOXF) had its target price cut by equities researchers at Robert W. Baird from $32.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 19.56% from the company’s current price.

Several other research firms have also issued reports on FOXF. Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, December 11th. Jefferies Financial Group dropped their price objective on Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Truist Financial cut their price objective on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $38.14.

Fox Factory Price Performance

Shares of FOXF opened at $20.91 on Friday. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. Fox Factory has a twelve month low of $19.81 and a twelve month high of $54.86. The stock has a market capitalization of $872.20 million, a P/E ratio of 80.43, a P/E/G ratio of 1.45 and a beta of 1.65. The company has a 50 day moving average of $25.96 and a 200-day moving average of $31.35.

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

Institutional Investors Weigh In On Fox Factory

Several hedge funds have recently added to or reduced their stakes in FOXF. Diversify Wealth Management LLC increased its holdings in shares of Fox Factory by 10.1% in the fourth quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company’s stock valued at $207,000 after purchasing an additional 680 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Fox Factory by 0.9% during the 4th quarter. Swiss National Bank now owns 82,000 shares of the company’s stock worth $2,482,000 after buying an additional 700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Fox Factory by 7.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,972 shares of the company’s stock worth $455,000 after buying an additional 785 shares during the period. Versant Capital Management Inc grew its stake in Fox Factory by 142.8% in the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company’s stock valued at $32,000 after buying an additional 807 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Fox Factory by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,039 shares of the company’s stock valued at $728,000 after acquiring an additional 816 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.