Fox Factory (NASDAQ:FOXF) Price Target Cut to $32.00 by Analysts at Robert W. Baird

Fox Factory (NASDAQ:FOXF - Get Free Report) had its price target dropped by investment analysts at Robert W. Baird from $38.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's target price points to a potential upside of 22.42% from the stock's previous close.

Several other brokerages have also recently issued reports on FOXF. Roth Mkm reduced their price target on shares of Fox Factory from $45.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Truist Financial reduced their target price on Fox Factory from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. 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. Finally, StockNews.com raised Fox Factory from a "sell" rating to a "hold" rating in a research note on Thursday, November 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $39.14.

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Fox Factory Trading Down 4.1 %

NASDAQ:FOXF traded down $1.11 during mid-day trading on Friday, reaching $26.14. 642,248 shares of the company's stock traded hands, compared to its average volume of 518,760. The company has a 50 day moving average price of $27.80 and a 200-day moving average price of $33.56. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 100.54, a PEG ratio of 1.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. Fox Factory has a 12-month low of $25.17 and a 12-month high of $54.85.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm had revenue of $352.84 million for the quarter, compared to analysts' expectations of $321.31 million. On average, sell-side analysts predict that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in Fox Factory by 36.5% in the third quarter. KBC Group NV now owns 1,377 shares of the company's stock worth $57,000 after acquiring an additional 368 shares in the last quarter. Quarry LP purchased a new position in shares of Fox Factory in the 4th quarter worth about $45,000. TD Waterhouse Canada Inc. bought a new position in Fox Factory in the 4th quarter worth about $143,000. HighTower Advisors LLC grew its position in Fox Factory by 23.8% during the 3rd quarter. HighTower Advisors LLC now owns 5,880 shares of the company's stock valued at $243,000 after purchasing an additional 1,131 shares during the last quarter. Finally, D.B. Root & Company LLC increased its stake in Fox Factory by 24.7% during the 3rd quarter. D.B. Root & Company LLC now owns 6,060 shares of the company's stock valued at $251,000 after purchasing an additional 1,199 shares in the last quarter.

About Fox Factory

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.