Fox Factory price target lowered to $21 from $30 at Roth Capital

Roth Capital analyst Scott Stember lowered the firm’s price target on Fox Factory (FOXF) to $21 from $30 and keeps a Neutral rating on the shares. The company reported a lower than expected Q3 EPS and cut its FY25 guidance, the analyst tells investors in a research note. While Powered Vehicles Group is still benefiting from new motorcycle supension offerings and Aftermarket Accessories Group from elevated aftermarket demand, Specialty Sports Group segment weakened in Q3 as the Bike and Marucci businesses see softer orders as retailers carefully monitor inventory, Roth added.