Fox Factory price target lowered to $19 from $21 at Roth Capital

Roth Capital analyst Scott Stember lowered the firm’s price target on Fox Factory (FOXF) to $19 from $21 and keeps a Neutral rating on the shares. Following recent in-person and virtual meetings with Fox Factory management, Fox is at a crossroads, as weakness in the Bike segment and a downturn at Marucci are prompting efforts to better align costs with realistic growth targets, while prioritizing free cash flow generation and debt repayment, the analyst tells investors in a research note.