Fox Factory (FOXF) Upgraded at BidaskClub

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Fox Factory (NASDAQ:FOXF) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.

A number of other analysts have also weighed in on the stock. ValuEngine lowered shares of Fox Factory from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 24th. Jefferies Financial Group upped their target price on shares of Fox Factory from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Friday, November 2nd. Bank of America upped their target price on shares of Fox Factory from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Finally, Robert W. Baird upped their target price on shares of Fox Factory from $58.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 14th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $63.83.

Shares of NASDAQ:FOXF opened at $66.93 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.19 and a current ratio of 2.10. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 1.83 and a beta of 1.22. Fox Factory has a 1 year low of $33.20 and a 1 year high of $73.54.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.06. The company had revenue of $175.80 million for the quarter, compared to analyst estimates of $173.33 million. Fox Factory had a net margin of 11.43% and a return on equity of 29.77%. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. Analysts anticipate that Fox Factory will post 2.2 EPS for the current fiscal year.

In related news, CEO Larry L. Enterline sold 22,401 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $70.14, for a total transaction of $1,571,206.14. Following the sale, the chief executive officer now directly owns 60,519 shares in the company, valued at $4,244,802.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Larry L. Enterline sold 90,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $68.82, for a total transaction of $6,193,800.00. Following the sale, the chief executive officer now owns 60,519 shares in the company, valued at $4,164,917.58. The disclosure for this sale can be found here. Insiders have sold 164,929 shares of company stock worth $11,255,573 over the last 90 days. Insiders own 5.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in FOXF. Legal & General Group Plc increased its stake in Fox Factory by 2.5% in the first quarter. Legal & General Group Plc now owns 69,532 shares of the company’s stock valued at $2,411,000 after purchasing an additional 1,709 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in Fox Factory in the first quarter valued at approximately $252,000. Principal Financial Group Inc. increased its stake in Fox Factory by 2.6% in the first quarter. Principal Financial Group Inc. now owns 316,439 shares of the company’s stock valued at $11,044,000 after purchasing an additional 8,107 shares during the last quarter. Peregrine Capital Management LLC increased its stake in Fox Factory by 5.0% in the second quarter. Peregrine Capital Management LLC now owns 739,757 shares of the company’s stock valued at $34,436,000 after purchasing an additional 35,507 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in Fox Factory in the second quarter valued at approximately $274,000. Institutional investors own 97.60% 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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Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

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