Shares of Fox Factory Holding Corp. (NASDAQ:FOXF – Get Rating) have earned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $111.00.
A number of analysts have weighed in on FOXF shares. Jefferies Financial Group decreased their price target on Fox Factory from $140.00 to $110.00 and set a “buy” rating for the company in a report on Friday, June 24th. Truist Financial decreased their price target on Fox Factory from $130.00 to $108.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and increased their price target for the stock from $88.00 to $115.00 in a report on Friday, August 5th.
Insider Activity
In other news, insider Christopher Tutton sold 8,055 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $103.21, for a total value of $831,356.55. Following the completion of the sale, the insider now directly owns 11,712 shares in the company, valued at approximately $1,208,795.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Fox Factory news, Director Dudley W. Mendenhall sold 2,000 shares of Fox Factory stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $104.43, for a total transaction of $208,860.00. Following the completion of the transaction, the director now owns 10,110 shares in the company, valued at approximately $1,055,787.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Tutton sold 8,055 shares of Fox Factory stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $103.21, for a total value of $831,356.55. Following the transaction, the insider now owns 11,712 shares of the company’s stock, valued at approximately $1,208,795.52. The disclosure for this sale can be found here. Insiders sold a total of 12,655 shares of company stock worth $1,298,449 in the last three months. Company insiders own 0.17% of the company’s stock.
Hedge Funds Weigh In On Fox Factory
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Fox Factory by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,035,929 shares of the company’s stock valued at $395,319,000 after acquiring an additional 50,702 shares in the last quarter. William Blair Investment Management LLC grew its stake in Fox Factory by 8.1% in the 1st quarter. William Blair Investment Management LLC now owns 1,697,451 shares of the company’s stock valued at $166,265,000 after purchasing an additional 126,960 shares during the period. Conestoga Capital Advisors LLC increased its position in shares of Fox Factory by 8.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,663,556 shares of the company’s stock valued at $133,983,000 after purchasing an additional 136,085 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Fox Factory by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,600,160 shares of the company’s stock valued at $156,736,000 after purchasing an additional 4,061 shares during the last quarter. Finally, State Street Corp increased its position in shares of Fox Factory by 0.3% during the 2nd quarter. State Street Corp now owns 1,298,217 shares of the company’s stock valued at $104,558,000 after purchasing an additional 4,219 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.
Fox Factory Trading Down 3.1 %
NASDAQ:FOXF traded down $2.68 during trading hours on Wednesday, hitting $82.51. 3,210 shares of the company were exchanged, compared to its average volume of 240,849. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 0.75 and a beta of 1.70. The company has a current ratio of 3.38, a quick ratio of 2.10 and a debt-to-equity ratio of 0.41. Fox Factory has a one year low of $69.28 and a one year high of $190.29. The company has a fifty day simple moving average of $93.81 and a 200 day simple moving average of $89.02.
Fox Factory (NASDAQ:FOXF – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.16. Fox Factory had a return on equity of 22.70% and a net margin of 12.42%. The firm had revenue of $406.71 million during the quarter, compared to the consensus estimate of $399.13 million. During the same period last year, the business posted $1.20 EPS. The business’s revenue was up 23.9% compared to the same quarter last year. Sell-side analysts expect that Fox Factory will post 5.2 EPS for the current fiscal year.
About Fox Factory
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and 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.
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