Fox Factory (NASDAQ:FOXF) Given New $40.00 Price Target at Truist Financial

Fox Factory (NASDAQ:FOXF - Get Free Report) had its target price decreased by stock analysts at Truist Financial from $42.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 35.09% from the company's previous close.

FOXF has been the topic of several other reports. Robert W. Baird lowered their price target on Fox Factory from $45.00 to $38.00 and set a "neutral" rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus upgraded Fox Factory from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research note on Wednesday, December 11th. StockNews.com upgraded shares of Fox Factory from a "sell" rating to a "hold" rating in a research note on Thursday, November 28th. Bank of America reduced their price objective on shares of Fox Factory from $53.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Finally, Roth Mkm dropped their price target on shares of Fox Factory from $45.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.33.

Fox Factory Stock Performance

FOXF stock traded down $0.54 during midday trading on Tuesday, hitting $29.61. 344,002 shares of the company traded hands, compared to its average volume of 443,976. The business has a 50 day simple moving average of $31.85 and a 200-day simple moving average of $38.89. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. Fox Factory has a twelve month low of $28.33 and a twelve month high of $69.46. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 113.89, a price-to-earnings-growth ratio of 2.55 and a beta of 1.60.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The business had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. During the same quarter in the previous year, the company earned $1.05 EPS. Fox Factory's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts predict that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Trading of Fox Factory

Several hedge funds have recently modified their holdings of FOXF. GAMMA Investing LLC grew its position in Fox Factory by 86.0% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company's stock worth $25,000 after acquiring an additional 277 shares during the last quarter. KBC Group NV increased its holdings in shares of Fox Factory by 36.5% in the third quarter. KBC Group NV now owns 1,377 shares of the company's stock valued at $57,000 after purchasing an additional 368 shares in the last quarter. Park Avenue Securities LLC raised its position in Fox Factory by 7.3% in the 3rd quarter. Park Avenue Securities LLC now owns 6,023 shares of the company's stock worth $250,000 after purchasing an additional 410 shares during the last quarter. FORA Capital LLC lifted its holdings in Fox Factory by 5.9% during the 3rd quarter. FORA Capital LLC now owns 9,117 shares of the company's stock worth $378,000 after buying an additional 507 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in Fox Factory by 7.9% in the 2nd quarter. Inspire Investing LLC now owns 7,318 shares of the company's stock valued at $353,000 after buying an additional 533 shares during the last quarter.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.