Roth MKM analyst Scott Stember lowered the firm’s price target on Fox Factory to $112 from $119 and keeps a Neutral rating on the shares after its lower than expected outlook. Soft economic conditions are weighing on the company’s Bike business, including an ongoing glut of channel inventory, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FOXF:
- Fox Factory sees FY23 adjusted EPS at lower end of $5.00-$5.30, consensus $5.16
- Fox Factory sees Q3 adjusted EPS $1.00-$1.20, consensus $1.41
- Fox Factory reports Q2 adjusted EPS $1.21, consensus $1.13
- Fox Factory Holding Corp. Announces Second Quarter Fiscal 2023 Financial Results
- Fox Factory Releases 2022 Sustainability Report, Detailing 2030 Aspirations