Fox Factory (NASDAQ:FOXF) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Fox Factory (NASDAQ:FOXF) from a hold rating to a buy rating in a research note published on Monday, Zacks.com reports. Zacks Investment Research currently has $172.00 price target on the stock.

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 analysts have also issued reports about the stock. Stifel Nicolaus lowered shares of Fox Factory from a buy rating to a hold rating and set a $159.00 price objective on the stock. in a report on Friday. They noted that the move was a valuation call. Robert W. Baird boosted their price objective on shares of Fox Factory from $98.00 to $138.00 and gave the company a neutral rating in a report on Friday, February 26th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $115.71.

Shares of NASDAQ FOXF traded up $0.15 during trading on Monday, hitting $153.38. 249,620 shares of the company were exchanged, compared to its average volume of 268,958. Fox Factory has a 12-month low of $48.67 and a 12-month high of $166.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 3.22. The company has a fifty day moving average price of $139.00 and a 200-day moving average price of $116.76. The firm has a market capitalization of $6.42 billion, a PE ratio of 76.31, a P/E/G ratio of 2.76 and a beta of 1.80.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, February 25th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.79 by $0.11. Fox Factory had a return on equity of 20.48% and a net margin of 10.00%. The business had revenue of $262.39 million for the quarter, compared to analyst estimates of $247.61 million. Research analysts anticipate that Fox Factory will post 2.91 earnings per share for the current fiscal year.

In other Fox Factory news, Director Larry L. Enterline sold 54,049 shares of Fox Factory stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $130.75, for a total value of $7,066,906.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael C. Dennison sold 4,264 shares of Fox Factory stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $135.87, for a total value of $579,349.68. Following the completion of the transaction, the chief executive officer now directly owns 93,168 shares of the company’s stock, valued at $12,658,736.16. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its position in shares of Fox Factory by 29.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 406 shares of the company’s stock worth $43,000 after buying an additional 93 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Fox Factory by 45.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 480 shares of the company’s stock worth $51,000 after buying an additional 150 shares in the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Fox Factory during the fourth quarter worth about $103,000. Veriti Management LLC acquired a new position in shares of Fox Factory during the fourth quarter worth about $138,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Fox Factory during the fourth quarter worth about $194,000.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and 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.

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