Fox Factory (NASDAQ:FOXF) Shares Gap Up – Here’s What Happened

Fox Factory Holding Corp. (NASDAQ:FOXF) gapped up before the market opened on Wednesday . The stock had previously closed at $31.71, but opened at $33.15. Fox Factory shares last traded at $33.62, with a volume of 65,084 shares trading hands.

Analyst Upgrades and Downgrades

FOXF has been the topic of several recent analyst reports. StockNews.com raised Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday. Roth Mkm lowered their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Truist Financial cut their target price on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Bank of America lowered their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Fox Factory currently has an average rating of “Hold” and a consensus target price of $40.67.

Fox Factory Stock Up 3.8 %

The firm has a 50-day simple moving average of $35.46 and a two-hundred day simple moving average of $41.21. The stock has a market cap of $1.37 billion, a P/E ratio of 126.27, a PEG ratio of 2.50 and a beta of 1.60. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business had revenue of $359.10 million during the quarter, compared to analyst estimates of $366.86 million. During the same quarter last year, the firm earned $1.05 EPS. Fox Factory’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fox Factory

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of Fox Factory by 86.0% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after purchasing an additional 277 shares in the last quarter. Signaturefd LLC grew its stake in Fox Factory by 301.1% during the third quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after buying an additional 545 shares in the last quarter. nVerses Capital LLC bought a new position in Fox Factory in the 3rd quarter valued at about $42,000. KBC Group NV increased its holdings in Fox Factory by 36.5% in the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock valued at $57,000 after buying an additional 368 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after acquiring an additional 261 shares during the period.

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.