Fox Factory (NASDAQ:FOXF) Sets New 1-Year Low – Here’s What Happened

Fox Factory Holding Corp. (NASDAQ:FOXF) shares reached a new 52-week low on Wednesday . The company traded as low as $31.09 and last traded at $31.59, with a volume of 144056 shares traded. The stock had previously closed at $31.86.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FOXF shares. Bank of America lowered their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Robert W. Baird reduced their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Truist Financial reduced their price objective on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Roth Mkm reduced their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, B. Riley reduced their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Fox Factory has an average rating of “Hold” and an average target price of $41.50.

Fox Factory Stock Up 1.2 %

The stock’s 50-day moving average price is $38.03 and its two-hundred day moving average price is $42.64. The stock has a market capitalization of $1.34 billion, a P/E ratio of 123.93, a P/E/G ratio of 2.60 and a beta of 1.65. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The company had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. As a group, research analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Fox Factory by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,002,109 shares of the company’s stock worth $41,595,000 after buying an additional 8,474 shares during the period. Disciplined Growth Investors Inc. MN bought a new position in Fox Factory in the 3rd quarter worth approximately $5,743,000. M&T Bank Corp lifted its stake in Fox Factory by 70.4% in the 3rd quarter. M&T Bank Corp now owns 36,795 shares of the company’s stock worth $1,528,000 after purchasing an additional 15,201 shares in the last quarter. Barclays PLC lifted its stake in Fox Factory by 474.7% in the 3rd quarter. Barclays PLC now owns 122,806 shares of the company’s stock worth $5,097,000 after purchasing an additional 101,437 shares in the last quarter. Finally, MML Investors Services LLC lifted its stake in Fox Factory by 13.1% in the 3rd quarter. MML Investors Services LLC now owns 26,050 shares of the company’s stock worth $1,081,000 after purchasing an additional 3,018 shares in the last quarter.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.