Fox Factory (NASDAQ:FOXF) Given New $45.00 Price Target at Roth Mkm

Fox Factory (NASDAQ:FOXF) had its price objective lowered by Roth Mkm from $55.00 to $45.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on FOXF. Truist Financial cut their price objective on Fox Factory from $90.00 to $60.00 and set a buy rating for the company in a report on Friday, February 23rd. Stifel Nicolaus reduced their price target on shares of Fox Factory from $56.00 to $45.00 and set a hold rating on the stock in a research report on Wednesday, April 24th. Bank of America lowered shares of Fox Factory from a buy rating to a neutral rating and set a $55.00 price objective for the company. in a report on Friday, February 23rd. StockNews.com cut shares of Fox Factory from a hold rating to a sell rating in a research note on Monday, February 26th. Finally, Robert W. Baird decreased their target price on shares of Fox Factory from $55.00 to $48.00 and set a neutral rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $48.00.

Fox Factory Price Performance

Shares of NASDAQ:FOXF traded up $4.10 on Friday, hitting $43.52. The company’s stock had a trading volume of 1,149,487 shares, compared to its average volume of 638,720. Fox Factory has a 1 year low of $37.98 and a 1 year high of $117.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.70 and a quick ratio of 1.91. The company has a market capitalization of $1.83 billion, a PE ratio of 24.31, a PEG ratio of 3.32 and a beta of 1.68. The company has a 50-day simple moving average of $46.45 and a 200 day simple moving average of $59.78.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $333.50 million during the quarter, compared to analysts’ expectations of $327.58 million. Fox Factory had a net margin of 5.41% and a return on equity of 10.50%. The business’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. Sell-side analysts forecast that Fox Factory will post 2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Fox Factory

Hedge funds and other institutional investors have recently modified their holdings of the company. Operose Advisors LLC purchased a new position in Fox Factory during the 3rd 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 valued at $38,000 after buying an additional 240 shares during the period. Quest Partners LLC bought a new position in shares of Fox Factory during the fourth quarter valued at approximately $31,000. GAMMA Investing LLC bought a new position in shares of Fox Factory during the fourth quarter valued at approximately $29,000. Finally, CWM LLC lifted its stake in Fox Factory by 54.1% in the fourth quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after acquiring an additional 219 shares during the period.

About Fox Factory

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.