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

Fox Factory (NASDAQ:FOXF) had its price objective reduced by equities research analysts at Robert W. Baird from $38.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 15.40% from the stock’s current price.

Several other equities analysts have also recently commented on FOXF. Roth Mkm cut their target price on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, December 11th. Truist Financial lowered their price target on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fox Factory has a consensus rating of “Hold” and a consensus target price of $39.14.

Fox Factory Price Performance

NASDAQ:FOXF opened at $27.73 on Friday. The stock has a market cap of $1.16 billion, a P/E ratio of 106.66, a PEG ratio of 1.45 and a beta of 1.58. Fox Factory has a one year low of $25.17 and a one year high of $54.85. The company has a fifty day moving average price of $27.84 and a 200 day moving average price of $33.70. 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 (NASDAQ:FOXF) last released its earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm 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%. Analysts anticipate that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Fox Factory

Several large investors have recently made changes to their positions in the company. William Blair Investment Management LLC grew its holdings in shares of Fox Factory by 17.1% in the 4th quarter. William Blair Investment Management LLC now owns 2,983,482 shares of the company’s stock worth $90,310,000 after purchasing an additional 434,998 shares during the last quarter. RWWM Inc. grew its holdings in shares of Fox Factory by 174.0% in the 4th quarter. RWWM Inc. now owns 1,997,531 shares of the company’s stock worth $60,465,000 after purchasing an additional 1,268,460 shares during the last quarter. State Street Corp grew its holdings in shares of Fox Factory by 0.4% in the 3rd quarter. State Street Corp now owns 1,596,222 shares of the company’s stock worth $66,243,000 after purchasing an additional 6,308 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Fox Factory by 6,413.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,352,242 shares of the company’s stock worth $40,932,000 after purchasing an additional 1,331,480 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of Fox Factory by 21.8% in the 4th quarter. Capital World Investors now owns 1,341,155 shares of the company’s stock worth $40,597,000 after purchasing an additional 240,416 shares during the last quarter.

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.