Jefferies Starts Fox Factory Holding (FOXF) at Buy

September 30, 2016 7:10 AM EDT
Get Alerts FOXF Hot Sheet
Price: $26.40 -0.94%

Rating Summary:
    6 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies initiates coverage on Fox Factory Holding (NASDAQ: FOXF) with a Buy rating and a price target of $26.00.

Analyst Trevor Young commented, "FOXF (BUY, PT $26) is our top pick given its increasing penetration into powersports and automotive categories, a growing bicycle TAM and a +300bps EBITDA margin opportunity. Fox is a leader in premium bicycle suspension and is expanding its TAM by 50%+ by entering mid-market price points, plus new component categories. However we see automotive/ powersports as an even greater opportunity. Production shifts to dedicated factories, new ERP, and growing aftermarket mix should drive +200bps GM expansion in the coming years. We are +2% and +6% ahead of FY17 consensus revenue and adjusted EPS."

For an analyst ratings summary and ratings history on Fox Factory Holding click here. For more ratings news on Fox Factory Holding click here.

Shares of Fox Factory Holding closed at $22.13 yesterday.

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