The Fox Factory Holding Corp. (FOXF) Rating Increased to Buy at Zacks Investment Research

The Fox Factory Holding Corp. (FOXF) Rating Increased to Buy at Zacks Investment Research

Fox Factory Holding Corp. (NASDAQ:FOXF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $25.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.11% from the stock’s previous close.

According to Zacks, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California. “

Other analysts also recently issued research reports about the company. SunTrust Banks Inc. upped their target price on Fox Factory Holding Corp. from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. DA Davidson upped their target price on Fox Factory Holding Corp. from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Jefferies Group set a $26.00 target price on Fox Factory Holding Corp. and gave the stock a “buy” rating in a research note on Thursday, October 13th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Fox Factory Holding Corp. in a research report on Thursday, August 4th. Seven equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $24.20.

Fox Factory Holding Corp. (NASDAQ:FOXF) opened at 22.30 on Friday. The stock has a 50 day moving average price of $21.66 and a 200-day moving average price of $18.61. Fox Factory Holding Corp. has a one year low of $13.85 and a one year high of $23.52. The stock has a market cap of $817.32 million, a PE ratio of 28.59 and a beta of 0.55.

Fox Factory Holding Corp. (NASDAQ:FOXF) last issued its earnings results on Wednesday, August 3rd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Fox Factory Holding Corp. had a return on equity of 27.62% and a net margin of 7.70%. The firm had revenue of $102.30 million for the quarter, compared to the consensus estimate of $98.53 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts expect that Fox Factory Holding Corp. will post $1.15 earnings per share for the current fiscal year.

In other Fox Factory Holding Corp. news, CFO Zvi Glasman sold 30,000 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $20.12, for a total transaction of $603,600.00. Following the completion of the transaction, the chief financial officer now owns 62,021 shares of the company’s stock, valued at $1,247,862.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 46.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in shares of Fox Factory Holding Corp. by 16.5% in the second quarter. Rhumbline Advisers now owns 20,686 shares of the company’s stock worth $359,000 after buying an additional 2,935 shares during the last quarter. American International Group Inc. boosted its position in shares of Fox Factory Holding Corp. by 29.7% in the second quarter. American International Group Inc. now owns 12,882 shares of the company’s stock worth $224,000 after buying an additional 2,953 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Fox Factory Holding Corp. by 68.9% in the second quarter. BlackRock Group LTD now owns 7,461 shares of the company’s stock worth $130,000 after buying an additional 3,044 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Fox Factory Holding Corp. by 34.6% in the second quarter. Nationwide Fund Advisors now owns 14,421 shares of the company’s stock worth $250,000 after buying an additional 3,705 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Fox Factory Holding Corp. by 28.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 16,852 shares of the company’s stock worth $293,000 after buying an additional 3,779 shares during the last quarter. 58.20% of the stock is owned by institutional investors and hedge funds.

Fox Factory Holding Corp. Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures and markets performance ride dynamics products for customers across the world. The Company’s brand ride dynamics products are used primarily on bicycles (bikes), side-by-side vehicles (Side-by-Sides), on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.

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