Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) have received a “Moderate Buy” rating from eight brokerages, according to Bloomberg.com. Three investment analysts recommend holding the stock, while five suggest buying it. The average one-year price target for FOXF, based on ratings by brokers in the past year, is $128.00.
In recent news regarding Fox Factory, CEO Michael C. Dennison sold 9,129 shares of the company’s stock on Thursday, August 10th. The shares were sold at an average price of $114.00 per share, resulting in a total transaction value of $1,040,706.00. Following this transaction, Dennison holds 70,795 shares in the company, valued at $8,070,630. This sale was disclosed in a filing with the Securities & Exchange Commission (SEC).
Additionally, CEO Michael C. Dennison also sold 9,129 shares of FOXF stock in another transaction that occurred on August 10th. These shares were sold at an average price of $114.00 per share, resulting in a total transaction value of $1,040,706. Following this sale, Dennison now owns 70,795 shares of the company’s stock valued at $8,070,630. The details of this sale can be found in a document filed with the SEC.
Another insider sell-off involved Paul Stecher who sold 2,300 shares of Fox Factory’s stock on Friday August 25th at an average price per share of $107.00 and generated a total value of $246,100. Stecher now owns 16,360 shares in the company worth $1 ,750 ,520 . Details about this particular sale are available through disclosure found here.
It is worth mentioning that corporate insiders own just 0.20% of Fox Factory’s stock.
On Thursday August 3rd, Fox Factory reported its quarterly earnings, surpassing the consensus estimate with $1.21 earnings per share for the quarter, outperforming it by $0.07. The company generated $400.72 million in revenue during the same period, slightly below analysts’ expectations of $401.67 million. Despite a 1.5% decline in revenue compared to the same quarter last year, Fox Factory had a return on equity of 19.41% and a net margin of 11.45%. In the prior year’s equivalent quarter, the firm earned EPS of $1.38.
Sell-side analysts predict that Fox Factory will post an EPS figure of 5.03 for the current year.
In conclusion, Fox Factory Holding Corp.’s stock has received a “Moderate Buy” rating from brokerages with hold and buy recommendations as well in their reports on FOXF. Recent insider sell-offs have been documented, including those by CEO Michael C. Dennison and insider Paul Stecher. Thereafter, analysts have reported on the company’s quarterly earnings performance indicating strong results that surpassed expectations but with a slight decline in revenue compared to last year’s figures.
Updated on: 05/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
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Fox Factory (NASDAQ: FOXF) Garnering Attention from Research Analysts and Institutional Investors Due to Growth Potential
On September 20, 2023, Fox Factory (NASDAQ:FOXF) finds itself in the midst of a whirlwind of research analyst reports. The company has garnered attention from multiple institutions, leading to various ratings and price targets being assigned to its shares.
One of the first research notes comes from StockNews.com, which initiated coverage on Fox Factory on August 17th. Their analysis resulted in a “hold” rating for the company. Shortly after, Stifel Nicolaus echoed their confidence in Fox Factory by reissuing a “buy” rating and setting a target price of $130.00 per share. B. Riley also joined the chorus of positivity towards Fox Factory by initiating coverage and giving a “buy” rating with a $125.00 price target.
Bank of America further solidified the positive sentiment surrounding Fox Factory by raising their price objective from $130.00 to $135.00 and maintaining a “buy” rating in late August.
These research reports have undoubtedly caught the attention of institutional investors who have taken notice of Fox Factory’s growth potential. OLD Mission Capital LLC entered into a new position in the company during the fourth quarter with an investment valued at approximately $25,000.
Covestor Ltd increased its stake in Fox Factory during the first quarter by 58.4%, now owning 358 shares valued at $35,000.
BOKF NA also recognized the value in investing in Fox Factory and acquired a new position during the first quarter worth $56,000.
Huntington National Bank decided to join the ranks of institutional investors by boosting its holdings in Fox Factory by 45.7% during the second quarter, now owning 523 shares valued at $57,000.
Quadrant Capital Group LLC rounded out this group of institutional investors by increasing its holdings in Fox Factory by 36.3% during the fourth quarter with an additional investment of $60,000.
As of Wednesday, September 20, FOXF opened at $102.08 on the NASDAQ. The company currently boasts a market capitalization of $4.33 billion and operates with a price-to-earnings ratio of 23.36 and a price/earnings to growth ratio of 1.98. Fox Factory’s beta stands at an impressive 1.82.
The company exhibits strong financial health with a current ratio of 4.08 and a quick ratio of 2.37. Additionally, its debt-to-equity ratio reveals cautious financial management with a low value of 0.27.
Fox Factory has experienced both highs and lows within the past year, with its stock hitting a low point of $73.05 and reaching as high as $127.54.
In terms of moving averages, the firm has displayed stability with a fifty-day simple moving average of $108.44 and a two-hundred-day simple moving average of $106.87.
Overall, Fox Factory is attracting attention from research analysts and institutional investors alike due to its potential for growth in the industry. With positive ratings and price targets being assigned to the company’s shares, it is clear that there is confidence in its prospects for success in the market.