Fox Factory (NASDAQ:FOXF) Price Target Cut to $36.00 by Analysts at Roth Mkm

Fox Factory (NASDAQ:FOXF - Get Free Report) had its target price lowered by Roth Mkm from $45.00 to $36.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Roth Mkm's price target indicates a potential upside of 5.82% from the stock's previous close.

A number of other research analysts have also recently issued reports on FOXF. Robert W. Baird decreased their price objective on shares of Fox Factory from $45.00 to $38.00 and set a "neutral" rating on the stock in a research note on Friday. Bank of America decreased their price target on Fox Factory from $53.00 to $43.00 and set a "neutral" rating on the stock in a research note on Thursday, September 12th. Truist Financial dropped their price objective on Fox Factory from $54.00 to $42.00 and set a "buy" rating for the company in a research report on Friday. Finally, B. Riley decreased their target price on Fox Factory from $50.00 to $45.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Fox Factory presently has a consensus rating of "Hold" and a consensus target price of $41.50.

Fox Factory Price Performance

Fox Factory stock traded down $1.97 during mid-day trading on Friday, reaching $34.02. 3,175,274 shares of the company were exchanged, compared to its average volume of 580,707. The firm has a market cap of $1.42 billion, a PE ratio of 34.60, a PEG ratio of 2.52 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63. The company has a fifty day simple moving average of $39.61 and a 200-day simple moving average of $43.31. Fox Factory has a 12 month low of $31.19 and a 12 month high of $86.14.

Fox Factory (NASDAQ:FOXF - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.07). The company had revenue of $359.10 million during the quarter, compared to the consensus estimate of $366.86 million. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, equities research analysts expect that Fox Factory will post 1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Fox Factory

In other news, CEO Michael C. Dennison acquired 4,800 shares of the stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $41.44 per share, with a total value of $198,912.00. Following the completion of the purchase, the chief executive officer now directly owns 135,066 shares of the company's stock, valued at $5,597,135.04. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Fox Factory

A number of hedge funds have recently modified their holdings of the business. Maryland State Retirement & Pension System bought a new position in shares of Fox Factory during the first quarter worth about $781,000. Norden Group LLC lifted its position in shares of Fox Factory by 72.3% in the 1st quarter. Norden Group LLC now owns 14,188 shares of the company's stock worth $739,000 after purchasing an additional 5,953 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Fox Factory in the 1st quarter valued at $251,000. Capstone Investment Advisors LLC acquired a new stake in shares of Fox Factory during the first quarter worth $543,000. Finally, Fifth Lane Capital LP bought a new position in Fox Factory during the first quarter worth $381,000.

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.