Fox Factory (NASDAQ:FOXF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The firm currently has a $84.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.36% from the stock’s current price.
According to Zacks, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California. “
Several other analysts have also commented on FOXF. BidaskClub upgraded shares of Fox Factory from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. SunTrust Banks raised their price target on shares of Fox Factory to $70.00 and gave the company a “hold” rating in a research report on Thursday. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Fox Factory has an average rating of “Buy” and an average price target of $66.57.
Shares of FOXF stock traded up $2.20 during trading hours on Friday, hitting $77.52. 188,372 shares of the company’s stock traded hands, compared to its average volume of 184,391. Fox Factory has a 12-month low of $34.75 and a 12-month high of $79.46. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.00 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.29 and a current ratio of 2.39.
Fox Factory (NASDAQ:FOXF) last released its earnings results on Wednesday, May 1st. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07. Fox Factory had a net margin of 12.43% and a return on equity of 30.57%. The firm had revenue of $161.70 million during the quarter, compared to analyst estimates of $156.30 million. During the same period last year, the business earned $0.36 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts forecast that Fox Factory will post 2.59 earnings per share for the current fiscal year.
In related news, Director Dudley W. Mendenhall sold 4,645 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $63.18, for a total transaction of $293,471.10. Following the transaction, the director now directly owns 11,870 shares in the company, valued at $749,946.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zvi Glasman sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. Following the transaction, the chief financial officer now owns 30,511 shares in the company, valued at $1,983,215. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,395 shares of company stock worth $13,856,021. Company insiders own 2.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FOXF. Vanguard Group Inc raised its holdings in Fox Factory by 38.4% in the third quarter. Vanguard Group Inc now owns 2,909,215 shares of the company’s stock valued at $203,790,000 after buying an additional 806,477 shares during the period. Vanguard Group Inc. lifted its stake in shares of Fox Factory by 38.4% in the third quarter. Vanguard Group Inc. now owns 2,909,215 shares of the company’s stock valued at $203,790,000 after buying an additional 806,477 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Fox Factory by 5.9% in the third quarter. Neuberger Berman Group LLC now owns 2,240,189 shares of the company’s stock valued at $156,926,000 after buying an additional 125,157 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Fox Factory by 1.9% in the third quarter. Clearbridge Investments LLC now owns 1,625,392 shares of the company’s stock valued at $113,859,000 after buying an additional 30,724 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of Fox Factory by 1.0% in the first quarter. Conestoga Capital Advisors LLC now owns 1,576,511 shares of the company’s stock valued at $110,182,000 after buying an additional 15,880 shares in the last quarter. Hedge funds and other institutional investors own 99.79% of the company’s stock.
Fox Factory Company Profile
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
Featured Story: Net Income
Get a free copy of the Zacks research report on Fox Factory (FOXF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com