Fox Factory (NASDAQ:FOXF) had its price objective increased by Jefferies Financial Group from $65.00 to $68.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 6.38% from the company’s previous close. Jefferies Financial Group also issued estimates for Fox Factory’s Q4 2018 earnings at $0.56 EPS, FY2018 earnings at $2.21 EPS and FY2019 earnings at $2.52 EPS.
Several other equities analysts have also commented on FOXF. Zacks Investment Research lowered Fox Factory from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Robert W. Baird raised their price objective on Fox Factory from $42.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, July 24th. Stifel Nicolaus raised their price target on Fox Factory from $42.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. Bank of America raised their price target on Fox Factory from $53.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, ValuEngine upgraded Fox Factory from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Fox Factory presently has a consensus rating of “Buy” and an average target price of $63.83.
Fox Factory stock traded up $0.74 on Thursday, hitting $63.92. 388,348 shares of the stock traded hands, compared to its average volume of 258,908. The company has a current ratio of 2.18, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.03 billion, a P/E ratio of 40.20, a P/E/G ratio of 1.53 and a beta of 1.22. Fox Factory has a 1 year low of $33.20 and a 1 year high of $73.10.
Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. The business had revenue of $175.80 million during the quarter, compared to analyst estimates of $173.33 million. Fox Factory had a return on equity of 31.07% and a net margin of 11.43%. The company’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. Analysts predict that Fox Factory will post 2.2 earnings per share for the current year.
In other news, insider Christopher Tutton sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $63.79, for a total transaction of $191,370.00. Following the completion of the transaction, the insider now directly owns 39,485 shares in the company, valued at $2,518,748.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zvi Glasman sold 1,600 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $64.79, for a total value of $103,664.00. Following the transaction, the chief financial officer now owns 40,567 shares of the company’s stock, valued at $2,628,335.93. The disclosure for this sale can be found here. Insiders have sold 175,216 shares of company stock valued at $11,906,170 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Fox Factory by 10.8% in the 2nd quarter. BlackRock Inc. now owns 5,233,996 shares of the company’s stock worth $243,642,000 after buying an additional 511,948 shares in the last quarter. Copper Rock Capital Partners LLC increased its holdings in Fox Factory by 777.3% in the 3rd quarter. Copper Rock Capital Partners LLC now owns 320,783 shares of the company’s stock worth $22,455,000 after buying an additional 284,217 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Fox Factory by 43.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 866,320 shares of the company’s stock worth $40,327,000 after buying an additional 263,434 shares in the last quarter. FMR LLC increased its holdings in Fox Factory by 40.3% in the 2nd quarter. FMR LLC now owns 811,400 shares of the company’s stock worth $37,771,000 after buying an additional 233,100 shares in the last quarter. Finally, WINTON GROUP Ltd increased its holdings in Fox Factory by 966.1% in the 3rd quarter. WINTON GROUP Ltd now owns 216,601 shares of the company’s stock worth $15,173,000 after buying an additional 196,283 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.
About Fox Factory
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
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