Robert W. Baird Has Lowered Expectations for Fox Factory (NASDAQ:FOXF) Stock Price

Fox Factory (NASDAQ:FOXF) had its price target decreased by Robert W. Baird from $32.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on FOXF. Truist Financial reduced their price objective on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group cut their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Fox Factory presently has an average rating of “Hold” and a consensus target price of $38.14.

Fox Factory Price Performance

FOXF opened at $20.95 on Friday. Fox Factory has a 12-month low of $18.69 and a 12-month high of $54.86. The company has a market cap of $873.87 million, a price-to-earnings ratio of 80.58, a price-to-earnings-growth ratio of 1.45 and a beta of 1.65. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $25.79 and a two-hundred day simple moving average of $31.22.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $352.84 million during the quarter, compared to analysts’ expectations of $321.31 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. Research analysts predict that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diversify Wealth Management LLC raised its stake in Fox Factory by 10.1% during the 4th quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company’s stock valued at $207,000 after buying an additional 680 shares during the last quarter. Swiss National Bank increased its position in Fox Factory by 0.9% during the fourth quarter. Swiss National Bank now owns 82,000 shares of the company’s stock valued at $2,482,000 after acquiring an additional 700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Fox Factory by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,972 shares of the company’s stock valued at $455,000 after acquiring an additional 785 shares during the period. Versant Capital Management Inc boosted its position in Fox Factory by 142.8% in the first quarter. Versant Capital Management Inc now owns 1,372 shares of the company’s stock worth $32,000 after purchasing an additional 807 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Fox Factory by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,039 shares of the company’s stock valued at $728,000 after purchasing an additional 816 shares during the period.

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.