Fox Factory Holding Corp. (FOXF) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Fox Factory Holding Corp. (NASDAQ:FOXF) from a buy rating to a hold rating in a report issued on Friday morning.

According to Zacks, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California. “

Other equities research analysts also recently issued research reports about the company. ValuEngine upgraded Fox Factory Holding Corp. from a hold rating to a buy rating in a research report on Friday, September 1st. Stifel Nicolaus reiterated a hold rating and issued a $38.00 price objective (up previously from $32.00) on shares of Fox Factory Holding Corp. in a report on Wednesday, August 9th. Robert W. Baird reiterated a hold rating and issued a $40.00 price objective on shares of Fox Factory Holding Corp. in a report on Thursday, September 28th. SunTrust Banks, Inc. reiterated a hold rating and issued a $36.00 price objective on shares of Fox Factory Holding Corp. in a report on Friday, October 20th. Finally, William Blair downgraded Fox Factory Holding Corp. from an outperform rating to a market perform rating in a report on Friday, October 13th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $39.29.

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) opened at $40.28 on Friday. Fox Factory Holding Corp. has a 12-month low of $19.90 and a 12-month high of $46.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.41 and a current ratio of 2.48. The firm has a market capitalization of $1,512.01, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.90 and a beta of 0.68.

Fox Factory Holding Corp. (NASDAQ:FOXF) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Fox Factory Holding Corp. had a return on equity of 28.25% and a net margin of 10.76%. The business had revenue of $127.40 million for the quarter, compared to the consensus estimate of $123.02 million. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. equities research analysts forecast that Fox Factory Holding Corp. will post 1.53 EPS for the current fiscal year.

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In related news, SVP William H. Katherman sold 18,580 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $42.01, for a total transaction of $780,545.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas Michael Wittenschlaeger sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $39.22, for a total value of $78,440.00. Following the transaction, the insider now owns 61,162 shares in the company, valued at approximately $2,398,773.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,739 shares of company stock worth $2,766,288. 21.40% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Alps Advisors Inc. increased its holdings in Fox Factory Holding Corp. by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 18,036 shares of the company’s stock valued at $642,000 after purchasing an additional 47 shares during the period. Capstone Asset Management Co. increased its holdings in Fox Factory Holding Corp. by 1.3% during the 2nd quarter. Capstone Asset Management Co. now owns 11,250 shares of the company’s stock valued at $401,000 after purchasing an additional 140 shares during the period. Texas Permanent School Fund increased its holdings in Fox Factory Holding Corp. by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 25,294 shares of the company’s stock valued at $900,000 after purchasing an additional 196 shares during the period. Prudential Financial Inc. increased its holdings in Fox Factory Holding Corp. by 0.3% during the 2nd quarter. Prudential Financial Inc. now owns 57,980 shares of the company’s stock valued at $2,064,000 after purchasing an additional 200 shares during the period. Finally, LS Investment Advisors LLC increased its holdings in Fox Factory Holding Corp. by 7.5% during the 2nd quarter. LS Investment Advisors LLC now owns 3,990 shares of the company’s stock valued at $142,000 after purchasing an additional 279 shares during the period. Institutional investors own 96.57% of the company’s stock.

About Fox Factory Holding Corp.

Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.

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