Robert W. Baird Cuts Fox Factory (NASDAQ:FOXF) Price Target to $38.00

Fox Factory (NASDAQ:FOXF) had its target price decreased by Robert W. Baird from $45.00 to $38.00 in a report released on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on FOXF. B. Riley dropped their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Bank of America cut their price objective on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Truist Financial decreased their target price on Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.50.

Fox Factory Price Performance

NASDAQ:FOXF opened at $34.02 on Friday. The business’s 50-day simple moving average is $39.47 and its two-hundred day simple moving average is $43.26. Fox Factory has a 52 week low of $31.19 and a 52 week high of $86.14. The stock has a market cap of $1.42 billion, a PE ratio of 130.85, a P/E/G ratio of 2.45 and a beta of 1.65. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a net margin of 0.78% and a return on equity of 5.22%. The business had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. During the same period last year, the business posted $1.05 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts forecast that Fox Factory will post 1.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael C. Dennison acquired 4,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now directly owns 135,066 shares in the company, valued at approximately $5,597,135.04. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fox Factory

Several institutional investors have recently made changes to their positions in FOXF. Fifth Third Bancorp grew its holdings in Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after purchasing an additional 261 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Fox Factory by 86.0% in the third quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after buying an additional 277 shares during the period. Covestor Ltd lifted its stake in shares of Fox Factory by 31.8% during the 1st quarter. Covestor Ltd now owns 1,518 shares of the company’s stock worth $79,000 after acquiring an additional 366 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in Fox Factory by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 37,006 shares of the company’s stock valued at $1,927,000 after acquiring an additional 395 shares during the period. Finally, Park Avenue Securities LLC grew its position in Fox Factory by 7.3% in the 3rd quarter. Park Avenue Securities LLC now owns 6,023 shares of the company’s stock valued at $250,000 after acquiring an additional 410 shares during the last quarter.

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.