Fox Factory (NASDAQ:FOXF) Price Target Cut to $40.00 by Analysts at Truist Financial

Fox Factory (NASDAQ:FOXF) had its price target decreased by analysts at Truist Financial from $42.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 34.05% from the company’s current price.

Several other analysts have also issued reports on the stock. Bank of America reduced their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Robert W. Baird lowered their target price on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, December 11th. Finally, Roth Mkm cut their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Fox Factory presently has an average rating of “Hold” and an average price target of $40.33.

Fox Factory Stock Down 1.0 %

Shares of Fox Factory stock traded down $0.31 during trading hours on Tuesday, reaching $29.84. The company’s stock had a trading volume of 60,321 shares, compared to its average volume of 368,914. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The stock’s fifty day simple moving average is $32.01 and its two-hundred day simple moving average is $39.04. The company has a market capitalization of $1.24 billion, a P/E ratio of 114.77, a P/E/G ratio of 2.55 and a beta of 1.60. Fox Factory has a one year low of $28.33 and a one year high of $69.46.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The company had revenue of $359.10 million for the quarter, compared to analyst estimates of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. Fox Factory’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. On average, research analysts forecast that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Fox Factory by 86.0% in the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after buying an additional 277 shares during the period. Signaturefd LLC grew its stake in shares of Fox Factory by 301.1% in the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after buying an additional 545 shares during the last quarter. nVerses Capital LLC bought a new position in Fox Factory during the 3rd quarter valued at approximately $42,000. KBC Group NV raised its stake in Fox Factory by 36.5% during the third 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 last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Fox Factory by 734.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,654 shares of the company’s stock worth $128,000 after acquiring an additional 2,336 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.