Fox Factory (NASDAQ:FOXF) Shares Gap Up – Still a Buy?

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) gapped up prior to trading on Wednesday . The stock had previously closed at $31.71, but opened at $33.15. Fox Factory shares last traded at $33.62, with a volume of 65,084 shares.

Wall Street Analyst Weigh In

FOXF has been the topic of a number of research analyst reports. Robert W. Baird reduced their price target 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, November 1st. Bank of America dropped their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Roth Mkm reduced their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Finally, Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.67.

Fox Factory Stock Up 3.8 %

The company has a market cap of $1.37 billion, a price-to-earnings ratio of 126.27, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The stock’s fifty day moving average is $35.46 and its two-hundred day moving average is $41.21.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The company had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. During the same quarter last year, the company posted $1.05 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fox Factory

A number of hedge funds and other institutional investors have recently modified their holdings of FOXF. State Street Corp lifted its holdings in Fox Factory by 0.4% during the third quarter. State Street Corp now owns 1,596,222 shares of the company’s stock worth $66,243,000 after acquiring an additional 6,308 shares during the period. Pacer Advisors Inc. raised its stake in shares of Fox Factory by 25,005.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after purchasing an additional 1,578,822 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Fox Factory in the 2nd quarter worth about $53,294,000. Geode Capital Management LLC grew its position in Fox Factory by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,002,109 shares of the company’s stock valued at $41,595,000 after buying an additional 8,474 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its position in Fox Factory by 15.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock worth $38,471,000 after acquiring an additional 127,187 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.