Fox Factory Holding Corp. (NASDAQ:FOXF) Receives $47.00 Consensus Target Price from Brokerages

Fox Factory Holding Corp. (NASDAQ:FOXF) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $47.00.

FOXF has been the topic of several recent analyst reports. Robert W. Baird lowered their target price on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. B. Riley lowered their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus decreased their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Roth Mkm decreased their price target on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Truist Financial decreased their price target on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, August 2nd.

Insider Activity at Fox Factory

In related news, insider Thomas L. Fletcher sold 2,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the transaction, the insider now owns 11,311 shares of the company’s stock, valued at approximately $502,321.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Fox Factory news, CEO Michael C. Dennison bought 11,250 shares of Fox Factory stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $44.30 per share, with a total value of $498,375.00. Following the acquisition, the chief executive officer now owns 130,266 shares in the company, valued at $5,770,783.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas L. Fletcher sold 2,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the sale, the insider now directly owns 11,311 shares of the company’s stock, valued at approximately $502,321.51. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Fox Factory

Institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in Fox Factory during the 4th quarter valued at $31,000. GAMMA Investing LLC purchased a new stake in Fox Factory during the 4th quarter valued at $29,000. CWM LLC boosted its position in Fox Factory by 54.1% during the 4th quarter. CWM LLC now owns 624 shares of the company’s stock valued at $42,000 after buying an additional 219 shares during the period. TFO Wealth Partners LLC boosted its position in Fox Factory by 14,180.0% during the 4th quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock valued at $48,000 after buying an additional 709 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new stake in Fox Factory during the 1st quarter valued at $42,000.

Fox Factory Stock Performance

Shares of FOXF stock opened at $39.74 on Friday. Fox Factory has a 12 month low of $37.48 and a 12 month high of $113.43. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.65 billion, a P/E ratio of 22.20, a PEG ratio of 2.10 and a beta of 1.66. The firm’s 50 day moving average is $46.89 and its 200 day moving average is $49.02.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. Fox Factory had a net margin of 3.07% and a return on equity of 7.62%. The business had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. During the same period in the prior year, the company posted $1.21 EPS. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Fox Factory will post 2.4 earnings per share for the current year.

Fox Factory Company Profile

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.