Zacks Investment Research downgraded shares of Fox Factory (NASDAQ:FOXF) from a buy rating to a hold rating in a research note released on Thursday. Zacks Investment Research currently has $45.00 price target on the stock.
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 stock. Robert W. Baird restated a hold rating and set a $40.00 price objective on shares of Fox Factory in a report on Thursday, September 28th. BidaskClub downgraded shares of Fox Factory from a sell rating to a strong sell rating in a report on Thursday, January 11th. Bank of America raised their price objective on shares of Fox Factory from $39.00 to $42.00 and gave the stock a neutral rating in a report on Thursday, September 21st. William Blair downgraded shares of Fox Factory from an outperform rating to a market perform rating in a report on Friday, October 13th. Finally, ValuEngine downgraded shares of Fox Factory from a buy rating to a hold rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Fox Factory presently has a consensus rating of Hold and an average price target of $39.43.
Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Fox Factory had a net margin of 10.76% and a return on equity of 28.25%. The company had revenue of $127.40 million for the quarter, compared to analyst estimates of $123.02 million. During the same period last year, the firm earned $0.44 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. analysts predict that Fox Factory will post 1.53 earnings per share for the current year.
In other news, CFO Zvi Glasman sold 15,000 shares of Fox Factory stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $39.72, for a total value of $595,800.00. Following the completion of the transaction, the chief financial officer now owns 64,100 shares in the company, valued at $2,546,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Larry L. Enterline sold 75,000 shares of Fox Factory stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $38.08, for a total transaction of $2,856,000.00. Following the completion of the transaction, the chief executive officer now owns 124,934 shares of the company’s stock, valued at approximately $4,757,486.72. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock valued at $3,845,500 in the last quarter. Corporate insiders own 21.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of FOXF. Neuberger Berman Group LLC increased its stake in shares of Fox Factory by 187.3% in the third quarter. Neuberger Berman Group LLC now owns 1,144,537 shares of the company’s stock worth $49,330,000 after purchasing an additional 746,191 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Fox Factory by 11.6% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,613,788 shares of the company’s stock valued at $285,055,000 after acquiring an additional 686,881 shares in the last quarter. Mawer Investment Management Ltd. purchased a new position in Fox Factory during the third quarter valued at approximately $24,843,000. BlackRock Inc. grew its stake in Fox Factory by 15.2% during the second quarter. BlackRock Inc. now owns 4,059,323 shares of the company’s stock valued at $144,512,000 after acquiring an additional 536,712 shares in the last quarter. Finally, KAMES CAPITAL plc grew its stake in Fox Factory by 80.2% during the fourth quarter. KAMES CAPITAL plc now owns 845,467 shares of the company’s stock valued at $32,804,000 after acquiring an additional 376,364 shares in the last quarter. Hedge funds and other institutional investors own 97.78% of the company’s stock.
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Fox Factory Company Profile
Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including 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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