Fox Factory’s (FOXF) “Buy” Rating Reiterated at Truist Financial

Fox Factory (NASDAQ:FOXF)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a research report issued on Friday, Benzinga reports. They currently have a $90.00 target price on the stock. Truist Financial’s target price would indicate a potential upside of 46.15% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Roth Mkm lowered their price target on Fox Factory from $112.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. B. Riley reissued a “neutral” rating and set a $80.00 target price (down previously from $125.00) on shares of Fox Factory in a research report on Friday, November 3rd. StockNews.com initiated coverage on shares of Fox Factory in a report on Thursday, October 5th. They issued a “hold” rating for the company. Stifel Nicolaus lowered shares of Fox Factory from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Bank of America lifted their price target on Fox Factory from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.43.

Fox Factory Stock Up 0.9 %

Shares of FOXF stock traded up $0.56 during trading hours on Friday, reaching $61.58. 174,258 shares of the company’s stock were exchanged, compared to its average volume of 264,342. The company has a current ratio of 3.85, a quick ratio of 2.07 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 2.40 and a beta of 1.80. Fox Factory has a fifty-two week low of $49.12 and a fifty-two week high of $127.54. The stock’s 50 day moving average is $86.85 and its 200-day moving average is $97.73.

Insider Activity

In related news, insider Paul Stecher sold 2,300 shares of Fox Factory stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $107.00, for a total transaction of $246,100.00. Following the completion of the transaction, the insider now directly owns 16,360 shares in the company, valued at $1,750,520. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Covestor Ltd lifted its position in shares of Fox Factory by 58.4% during the 1st quarter. Covestor Ltd now owns 358 shares of the company’s stock valued at $35,000 after buying an additional 132 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of Fox Factory in the third quarter valued at about $37,000. Assetmark Inc. increased its stake in shares of Fox Factory by 171.4% during the third quarter. Assetmark Inc. now owns 380 shares of the company’s stock worth $38,000 after purchasing an additional 240 shares in the last quarter. BOKF NA acquired a new position in shares of Fox Factory during the 1st quarter worth about $56,000. Finally, Huntington National Bank lifted its stake in Fox Factory by 45.7% in the 2nd quarter. Huntington National Bank now owns 523 shares of the company’s stock valued at $57,000 after buying an additional 164 shares in the last quarter.

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.