Fox Factory (NASDAQ:FOXF) Price Target Cut to $45.00

Fox Factory (NASDAQ:FOXF) had its target price reduced by Roth Mkm from $55.00 to $45.00 in a report issued on Friday morning, Benzinga reports. Roth Mkm currently has a neutral rating on the stock.

FOXF has been the topic of several other reports. Stifel Nicolaus dropped their price target on Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a research report on Wednesday, April 24th. Bank of America downgraded Fox Factory from a buy rating to a neutral rating and set a $55.00 price target on the stock. in a research note on Friday, February 23rd. Robert W. Baird decreased their target price on shares of Fox Factory from $55.00 to $48.00 and set a neutral rating for the company in a report on Friday. StockNews.com downgraded shares of Fox Factory from a hold rating to a sell rating in a research report on Monday, February 26th. Finally, Truist Financial cut their target price on Fox Factory from $90.00 to $60.00 and set a buy rating on the stock in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $46.83.

Fox Factory Price Performance

FOXF stock opened at $44.31 on Friday. The firm’s fifty day moving average is $46.36 and its 200 day moving average is $58.99. Fox Factory has a 52 week low of $37.98 and a 52 week high of $117.68. The firm has a market cap of $1.86 billion, a P/E ratio of 24.75, a P/E/G ratio of 3.66 and a beta of 1.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. The firm had revenue of $333.50 million during the quarter, compared to analysts’ expectations of $327.58 million. During the same period last year, the company posted $1.20 EPS. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. Research analysts predict that Fox Factory will post 2.42 earnings per share for the current year.

Institutional Trading of Fox Factory

A number of hedge funds have recently bought and sold shares of FOXF. Quantbot Technologies LP lifted its stake in shares of Fox Factory by 13.4% in the 1st quarter. Quantbot Technologies LP now owns 23,904 shares of the company’s stock worth $1,245,000 after purchasing an additional 2,824 shares during the period. Texas Permanent School Fund Corp lifted its position in Fox Factory by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 37,006 shares of the company’s stock valued at $1,927,000 after purchasing an additional 395 shares in the last quarter. FORA Capital LLC purchased a new stake in Fox Factory in the first quarter worth about $688,000. Fifth Lane Capital LP bought a new position in shares of Fox Factory in the first quarter worth about $381,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Fox Factory during the 1st quarter valued at about $543,000.

About Fox Factory

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.