BidaskClub Downgrades Fox Factory (NASDAQ:FOXF) to Buy

Fox Factory (NASDAQ:FOXF) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday, BidAskClub reports.

Other equities research analysts have also issued reports about the stock. SunTrust Banks increased their target price on shares of Markel to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $69.17.

NASDAQ:FOXF opened at $80.94 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.39 and a quick ratio of 1.29. The stock has a market cap of $3.04 billion, a PE ratio of 33.05, a P/E/G ratio of 1.87 and a beta of 1.35. The business’s 50 day moving average is $75.57. Fox Factory has a fifty-two week low of $47.15 and a fifty-two week high of $85.04.



Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. The firm had revenue of $161.70 million during the quarter, compared to analysts’ expectations of $156.30 million. Fox Factory had a net margin of 12.43% and a return on equity of 30.57%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. On average, equities analysts predict that Fox Factory will post 2.6 earnings per share for the current year.

In other news, CFO Zvi Glasman sold 5,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $82.50, for a total value of $412,500.00. Following the sale, the chief financial officer now directly owns 20,284 shares in the company, valued at approximately $1,673,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Larry L. Enterline sold 100,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $67.41, for a total transaction of $6,741,000.00. Following the completion of the sale, the chief executive officer now owns 5,652 shares in the company, valued at $381,001.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,865 shares of company stock worth $8,055,306. 2.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System raised its stake in Fox Factory by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 58,258 shares of the company’s stock worth $4,072,000 after acquiring an additional 481 shares in the last quarter. Norges Bank acquired a new stake in Fox Factory during the 4th quarter worth $19,815,000. Squarepoint Ops LLC acquired a new stake in Fox Factory during the 4th quarter worth $387,000. Bronfman E.L. Rothschild L.P. raised its stake in Fox Factory by 751.3% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 647 shares of the company’s stock worth $38,000 after acquiring an additional 571 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in Fox Factory by 4.5% during the 4th quarter. Texas Permanent School Fund now owns 24,859 shares of the company’s stock worth $1,463,000 after acquiring an additional 1,061 shares in the last quarter. Institutional investors and hedge funds own 99.70% 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.

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Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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