Fox Factory (NASDAQ:FOXF) Downgraded to Buy at BidaskClub

BidaskClub cut shares of Fox Factory (NASDAQ:FOXF) from a strong-buy rating to a buy rating in a research report report published on Thursday morning, BidAskClub reports.

Several other analysts have also recently issued reports on the stock. SunTrust Banks upped their price objective on shares of Markel to $1,100.00 and gave the company a hold rating in a research note on Thursday, May 2nd. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $69.17.

Shares of FOXF stock traded up $1.29 on Thursday, reaching $80.95. 6,552 shares of the company were exchanged, compared to its average volume of 208,224. The company has a market cap of $3.07 billion, a P/E ratio of 36.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The firm has a 50-day moving average of $75.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.29 and a current ratio of 2.39. Fox Factory has a 1 year low of $47.15 and a 1 year high of $85.04.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Wednesday, May 1st. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. Fox Factory had a net margin of 12.43% and a return on equity of 30.57%. The business had revenue of $161.70 million during the quarter, compared to analysts’ expectations of $156.30 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Analysts anticipate that Fox Factory will post 2.6 EPS for the current year.

In other Fox Factory news, Director Dudley W. Mendenhall sold 4,645 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $71.84, for a total value of $333,696.80. Following the transaction, the director now directly owns 13,397 shares in the company, valued at approximately $962,440.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Tutton sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.94, for a total transaction of $151,880.00. Following the completion of the transaction, the insider now owns 30,445 shares in the company, valued at $2,311,993.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,865 shares of company stock valued at $8,055,306. 2.30% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of FOXF. Norges Bank acquired a new position in Fox Factory in the 4th quarter valued at about $19,815,000. Lord Abbett & CO. LLC acquired a new position in Fox Factory in the 4th quarter valued at about $16,575,000. Neuberger Berman Group LLC boosted its holdings in Fox Factory by 9.3% in the 1st quarter. Neuberger Berman Group LLC now owns 3,126,980 shares of the company’s stock valued at $218,545,000 after purchasing an additional 266,505 shares during the last quarter. Deutsche Bank AG boosted its holdings in Fox Factory by 52.5% in the 4th quarter. Deutsche Bank AG now owns 329,076 shares of the company’s stock valued at $19,370,000 after purchasing an additional 113,342 shares during the last quarter. Finally, Ellis Investment Partners LLC acquired a new position in Fox Factory in the 1st quarter valued at about $101,000. Institutional investors own 99.70% of the company’s stock.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.

Recommended Story: Moving Average (MA)

Analyst Recommendations for Fox Factory (NASDAQ:FOXF)

Receive News & Ratings for Fox Factory Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fox Factory and related companies with MarketBeat.com's FREE daily email newsletter.