Fox Factory (NASDAQ:FOXF) Given New $42.00 Price Target at Truist Financial

by · The Markets Daily

Fox Factory (NASDAQ:FOXF – Free Report) had its target price cut by Truist Financial from $54.00 to $42.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the company. B. Riley dropped their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird reduced their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Friday. Finally, Bank of America dropped their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Fox Factory currently has a consensus rating of “Hold” and an average price target of $41.50.

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Fox Factory Stock Down 5.5 %

Shares of Fox Factory stock traded down $1.97 during midday trading on Friday, reaching $34.02. 3,211,660 shares of the company’s stock traded hands, compared to its average volume of 580,707. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. Fox Factory has a 52 week low of $31.19 and a 52 week high of $86.14. The company’s 50 day simple moving average is $39.47 and its 200 day simple moving average is $43.25. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.52 and a beta of 1.64.

Fox Factory (NASDAQ:FOXF – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The company had revenue of $359.10 million during the quarter, compared to the consensus estimate of $366.86 million. During the same period in the previous year, the business posted $1.05 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Equities analysts expect that Fox Factory will post 1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Fox Factory

In other news, CEO Michael C. Dennison acquired 4,800 shares of Fox Factory stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $41.44 per share, with a total value of $198,912.00. Following the acquisition, the chief executive officer now owns 135,066 shares in the company, valued at $5,597,135.04. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Fox Factory

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of Fox Factory by 86.0% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after acquiring an additional 277 shares during the last quarter. Signaturefd LLC boosted its holdings in Fox Factory by 301.1% during the third quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after buying an additional 545 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Fox Factory during the 3rd quarter worth about $42,000. Fifth Third Bancorp increased its stake in shares of Fox Factory by 26.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after acquiring an additional 261 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Fox Factory by 31.8% in the 1st quarter. Covestor Ltd now owns 1,518 shares of the company’s stock valued at $79,000 after acquiring an additional 366 shares during the period.

Fox Factory Company Profile

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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.

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