Fox Factory (FOXF) Cut to Hold at ValuEngine

ValuEngine downgraded shares of Fox Factory (NASDAQ:FOXF) from a buy rating to a hold rating in a report issued on Friday.

Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Fox Factory from a buy rating to a hold rating in a research note on Tuesday, August 22nd. Robert W. Baird restated a hold rating and set a $40.00 price target on shares of Fox Factory in a research note on Thursday, September 28th. Bank of America increased their target price on Fox Factory from $39.00 to $42.00 and gave the company a neutral rating in a research note on Thursday, September 21st. Stifel Nicolaus reiterated a hold rating and issued a $38.00 target price (up previously from $32.00) on shares of Fox Factory in a research note on Wednesday, August 9th. Finally, William Blair lowered Fox Factory from an outperform rating to a market perform rating in a research note on Friday, October 13th. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $40.14.

Shares of Fox Factory (NASDAQ:FOXF) opened at $39.75 on Friday. The company has a market capitalization of $1,490.00, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.85 and a beta of 0.63. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.41 and a current ratio of 2.48. Fox Factory has a 12 month low of $24.63 and a 12 month high of $46.80.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $127.40 million during the quarter, compared to analyst estimates of $123.02 million. Fox Factory had a return on equity of 28.25% and a net margin of 10.76%. The firm’s revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. sell-side analysts anticipate that Fox Factory will post 1.53 EPS for the current fiscal year.

In other news, SVP William H. Katherman sold 18,580 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $42.01, for a total value of $780,545.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FOXF. Ameritas Investment Partners Inc. grew its stake in Fox Factory by 76.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock valued at $110,000 after purchasing an additional 1,332 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Fox Factory during the 2nd quarter valued at approximately $111,000. LS Investment Advisors LLC grew its stake in Fox Factory 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 in the last quarter. Paradigm Asset Management Co. LLC acquired a new stake in Fox Factory during the 2nd quarter valued at approximately $160,000. Finally, Pinebridge Investments L.P. grew its stake in Fox Factory by 20.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,564 shares of the company’s stock valued at $163,000 after purchasing an additional 778 shares in the last quarter. Hedge funds and other institutional investors own 98.07% of the company’s stock.

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About Fox Factory

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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