The stock of Fox Factory Holding Corp (NASDAQ:FOXF) gapped up by $0.22 today and has $32.39 target or 41.00% above today’s $22.97 share price. The 7 months technical chart setup indicates low risk for the $837.01M company. The gap was reported on Oct, 1 by Barchart.com. If the $32.39 price target is reached, the company will be worth $343.17 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 3.80% or $0.84 during the last trading session, hitting $22.97. About 342,422 shares traded hands. Fox Factory Holding Corp (NASDAQ:FOXF) has risen 53.85% since February 29, 2016 and is uptrending. It has outperformed by 43.43% the S&P500.
Analysts await Fox Factory Holding Corp (NASDAQ:FOXF) to report earnings on November, 2. They expect $0.39 EPS, up 2.63% or $0.01 from last year’s $0.38 per share. FOXF’s profit will be $14.21 million for 14.72 P/E if the $0.39 EPS becomes a reality. After $0.32 actual EPS reported by Fox Factory Holding Corp for the previous quarter, Wall Street now forecasts 21.88% EPS growth.
Fox Factory Holding Corp (NASDAQ:FOXF) Ratings Coverage
Out of 2 analysts covering Fox Factory Holding Corp. (NASDAQ:FOXF), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Fox Factory Holding Corp. has been the topic of 2 analyst reports since August 4, 2016 according to StockzIntelligence Inc. SunTrust maintained the stock with “Buy” rating in Thursday, August 4 report. Jefferies initiated it with “Buy” rating and $26 target price in Friday, September 30 report.
According to Zacks Investment Research, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California.”
Insitutional Activity: The institutional sentiment decreased to 1.41 in 2016 Q2. Its down 0.02, from 1.43 in 2016Q1. The ratio worsened, as 12 funds sold all Fox Factory Holding Corp shares owned while 25 reduced positions. 17 funds bought stakes while 35 increased positions. They now own 21.17 million shares or 5.64% more from 20.04 million shares in 2016Q1.
Morgan Stanley accumulated 19,045 shares or 0% of the stock. Qs Investors Ltd Liability Com accumulated 17 shares or 0% of the stock. The Quebec – Canada-based Van Berkom Assocs Inc has invested 1.53% in Fox Factory Holding Corp (NASDAQ:FOXF). National Bank Of New York Mellon Corporation holds 87,447 shares or 0% of its portfolio. Teachers Advsrs Incorporated accumulated 37,724 shares or 0% of the stock. Tower Capital Llc (Trc) accumulated 0% or 509 shares. D E Shaw & Incorporated accumulated 29,005 shares or 0% of the stock. Ameriprise Finance Inc holds 0% or 112,230 shares in its portfolio. Loomis Sayles And Company Ltd Partnership owns 723,364 shares or 0.03% of their US portfolio. Origin Asset Management Llp holds 0.02% of its portfolio in Fox Factory Holding Corp (NASDAQ:FOXF) for 14,006 shares. New York State Common Retirement Fund holds 37,611 shares or 0% of its portfolio. Citigroup holds 0% of its portfolio in Fox Factory Holding Corp (NASDAQ:FOXF) for 1,054 shares. Moreover, Rhumbline Advisers has 0% invested in Fox Factory Holding Corp (NASDAQ:FOXF) for 20,686 shares. Lazard Asset Mngmt Ltd Liability owns 1.61M shares or 0.06% of their US portfolio. Royal Commercial Bank Of Canada owns 1.81 million shares or 0.02% of their US portfolio.
Insider Transactions: Since August 8, 2016, the stock had 0 insider buys, and 1 sale for $603,525 net activity. Shares for $603,525 were sold by Glasman Zvi.
More recent Fox Factory Holding Corp (NASDAQ:FOXF) news were published by: Globenewswire.com which released: “Fox Factory Holding Corp. Announces Secondary Public Offering” on August 08, 2016. Also Prnewswire.com published the news titled: “Compass Diversified Holdings Announces Partial Divestiture of Fox Factory …” on March 16, 2016. Prnewswire.com‘s news article titled: “Compass Diversified Holdings Announces Partial Divestiture of Fox Factory …” with publication date: August 15, 2016 was also an interesting one.
FOXF Company Profile
Fox Factory Holding Corp., incorporated on December 28, 2007, designs, engineers, makes and markets performance ride dynamics products for clients across the world. The Company’s brand ride dynamics products are used primarily on bicycles (bikes), side-by-side vehicles (Side-by-Sides), on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles. The Company’s brands include FOX, FOX RACING SHOX and RACE FACE. The Company’s products include 34 Factory Series FLOAT FIT4, which provides external adjustability with its fourth-generation FOX Isolated Technology and closed-cartridge damper, and includes a self-adjusting negative chamber air spring; X2 technology, utilized in its Factory Series FLOAT and DH rear shocks; PODIUM Internal Bypass, and FLOAT iCD, which provides riders the ability to adjust modes for different skills, terrains and activity levels on mountain bikes.
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