BidaskClub downgraded shares of Fox Factory (NASDAQ:FOXF) from a buy rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.
FOXF has been the subject of a number of other reports. SunTrust Banks lifted their price target on shares of Fox Factory to $70.00 and gave the company a hold rating in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Fox Factory from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $75.83.
Shares of NASDAQ:FOXF traded down $1.65 during trading on Thursday, reaching $75.65. 201,408 shares of the stock were exchanged, compared to its average volume of 197,744. Fox Factory has a 12 month low of $49.97 and a 12 month high of $86.91. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 1.80 and a beta of 1.30. The company’s 50-day moving average is $80.93. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 2.73.
Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Fox Factory had a net margin of 12.45% and a return on equity of 29.77%. The company had revenue of $192.10 million during the quarter, compared to the consensus estimate of $187.96 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. On average, analysts anticipate that Fox Factory will post 2.62 earnings per share for the current year.
In other news, CFO Zvi Glasman sold 5,000 shares of Fox Factory stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the chief financial officer now directly owns 20,284 shares in the company, valued at $1,622,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Larry L. Enterline sold 100,000 shares of Fox Factory stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $67.41, for a total transaction of $6,741,000.00. Following the completion of the sale, the chief executive officer now owns 5,652 shares of the company’s stock, valued at $381,001.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,865 shares of company stock valued at $8,055,306. 2.30% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC raised its position in Fox Factory by 9.3% during the first quarter. Neuberger Berman Group LLC now owns 3,126,980 shares of the company’s stock valued at $218,545,000 after purchasing an additional 266,505 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Fox Factory by 2.4% during the second quarter. Conestoga Capital Advisors LLC now owns 1,614,784 shares of the company’s stock valued at $133,236,000 after purchasing an additional 38,273 shares in the last quarter. Janus Henderson Group PLC raised its position in Fox Factory by 0.7% during the first quarter. Janus Henderson Group PLC now owns 769,813 shares of the company’s stock valued at $53,802,000 after purchasing an additional 5,271 shares in the last quarter. Wells Fargo & Company MN raised its position in Fox Factory by 6.3% during the first quarter. Wells Fargo & Company MN now owns 618,952 shares of the company’s stock valued at $43,258,000 after purchasing an additional 36,929 shares in the last quarter. Finally, FMR LLC raised its position in Fox Factory by 20.6% during the first quarter. FMR LLC now owns 533,779 shares of the company’s stock valued at $37,306,000 after purchasing an additional 91,213 shares in the last quarter. Institutional investors and hedge funds own 99.46% 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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