Fox Factory (NASDAQ:FOXF) Price Target Cut to $45.00 by Analysts at Robert W. Baird

Fox Factory (NASDAQ:FOXF) had its price target trimmed by Robert W. Baird from $48.00 to $45.00 in a report released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Truist Financial dropped their price objective on Fox Factory from $55.00 to $54.00 and set a buy rating on the stock in a research note on Friday. Roth Mkm lowered their price objective on Fox Factory from $55.00 to $45.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. B. Riley lowered their price objective on Fox Factory from $50.00 to $45.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. Bank of America decreased their price target on Fox Factory from $55.00 to $48.00 and set a neutral rating on the stock in a research report on Monday, May 6th. Finally, Stifel Nicolaus cut their price objective on Fox Factory from $56.00 to $45.00 and set a hold rating for the company in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $47.00.

Fox Factory Trading Down 16.3 %

NASDAQ:FOXF traded down $8.05 on Friday, reaching $41.48. 1,501,707 shares of the stock traded hands, compared to its average volume of 478,198. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.66. The company’s 50 day moving average is $47.85 and its 200-day moving average is $50.69. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. Fox Factory has a 1-year low of $37.98 and a 1-year high of $117.68.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a return on equity of 7.62% and a net margin of 3.07%. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. Equities research analysts anticipate that Fox Factory will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling at Fox Factory

In related news, insider Thomas L. Fletcher sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the transaction, the insider now owns 11,311 shares in the company, valued at $502,321.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Michael C. Dennison bought 11,250 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $44.30 per share, with a total value of $498,375.00. Following the completion of the purchase, the chief executive officer now owns 130,266 shares in the company, valued at approximately $5,770,783.80. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas L. Fletcher sold 2,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $44.41, for a total value of $88,820.00. Following the completion of the sale, the insider now directly owns 11,311 shares in the company, valued at $502,321.51. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Fox Factory

Several institutional investors have recently modified their holdings of FOXF. Norden Group LLC boosted its position in Fox Factory by 3,378.1% in the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock worth $14,914,000 after purchasing an additional 278,185 shares during the last quarter. Sei Investments Co. raised its stake in Fox Factory by 6.9% during the 1st quarter. Sei Investments Co. now owns 223,173 shares of the company’s stock valued at $11,621,000 after purchasing an additional 14,328 shares during the period. Vanguard Group Inc. grew its holdings in Fox Factory by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock valued at $286,279,000 after buying an additional 46,132 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fox Factory by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 421,003 shares of the company’s stock valued at $28,409,000 after buying an additional 16,542 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its holdings in Fox Factory by 172.8% during the 1st quarter. Motley Fool Asset Management LLC now owns 41,704 shares of the company’s stock valued at $2,172,000 after buying an additional 26,416 shares in the last quarter.

Fox Factory Company Profile

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.