BidaskClub Downgrades Fox Factory (FOXF) to Sell

BidaskClub downgraded shares of Fox Factory (NASDAQ:FOXF) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other brokerages also recently commented on FOXF. Robert W. Baird boosted their price objective on Fox Factory from $58.00 to $68.00 and gave the stock a neutral rating in a research report on Friday, September 14th. Stifel Nicolaus boosted their price objective on Fox Factory from $55.00 to $65.00 and gave the stock a hold rating in a research report on Tuesday, September 18th. ValuEngine raised Fox Factory from a buy rating to a strong-buy rating in a research report on Friday, August 3rd. Bank of America boosted their price objective on Fox Factory from $53.00 to $60.00 and gave the stock a buy rating in a research report on Thursday, August 2nd. Finally, Jefferies Financial Group assumed coverage on Fox Factory in a research report on Monday, July 16th. They set a buy rating and a $63.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Fox Factory has an average rating of Buy and a consensus target price of $60.33.

NASDAQ FOXF opened at $50.66 on Friday. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 1.48 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.18 and a quick ratio of 1.20. Fox Factory has a 1-year low of $33.20 and a 1-year high of $73.10.



Fox Factory (NASDAQ:FOXF) last released its earnings results on Wednesday, August 1st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $156.80 million during the quarter, compared to the consensus estimate of $146.72 million. Fox Factory had a return on equity of 27.73% and a net margin of 10.93%. Fox Factory’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. On average, sell-side analysts forecast that Fox Factory will post 2.09 earnings per share for the current fiscal year.

In other news, CEO Larry L. Enterline sold 90,000 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $68.82, for a total transaction of $6,193,800.00. Following the completion of the transaction, the chief executive officer now directly owns 60,519 shares of the company’s stock, valued at $4,164,917.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Larry L. Enterline sold 22,401 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $70.14, for a total value of $1,571,206.14. Following the transaction, the chief executive officer now directly owns 60,519 shares of the company’s stock, valued at $4,244,802.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,216 shares of company stock valued at $11,906,170. Corporate insiders own 5.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its holdings in Fox Factory by 12.3% in the second quarter. Wells Fargo & Company MN now owns 490,664 shares of the company’s stock valued at $22,840,000 after purchasing an additional 53,743 shares in the last quarter. Atria Investments LLC boosted its holdings in Fox Factory by 37.9% in the third quarter. Atria Investments LLC now owns 17,392 shares of the company’s stock valued at $1,218,000 after purchasing an additional 4,784 shares in the last quarter. Copper Rock Capital Partners LLC boosted its holdings in Fox Factory by 777.3% in the third quarter. Copper Rock Capital Partners LLC now owns 320,783 shares of the company’s stock valued at $22,455,000 after purchasing an additional 284,217 shares in the last quarter. TD Asset Management Inc. acquired a new position in Fox Factory in the second quarter valued at approximately $438,000. Finally, Cooke & Bieler LP boosted its holdings in Fox Factory by 10.4% in the second quarter. Cooke & Bieler LP now owns 455,614 shares of the company’s stock valued at $21,209,000 after purchasing an additional 42,914 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

About Fox Factory

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.

Read More: Intrinsic Value and Stock Selection

Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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