B.Riley Downgrades Fox Factory Holding (FOXF) to Neutral, 'Bikes suffer another worse-than-feared quarter'

B.Riley analyst Anna Glaessgen downgraded Fox Factory Holding (NASDAQ: FOXF) from Buy to Neutral with a price target of $80.00 (from $125.00).

The analyst comments "Downgrade from Buy to Neutral, PT from $125 to $80. Bikes suffer another worse-than-feared quarter. PVG now seeing dealers more cautious on inventory (higher carrying costs from higher rates). Completely surprising, a huge acquisition that is a significant offshoot from the legacy business. While shares are ‘cheap’, lack of clear upside catalysts on the near/med term horizon."

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 $83.13 yesterday.

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