Fox Factory (NASDAQ:FOXF) Sees Strong Trading Volume – Here’s Why

Fox Factory Holding Corp. (NASDAQ:FOXF) saw an uptick in trading volume on Monday . 1,130,511 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 606,055 shares.The stock last traded at $32.39 and had previously closed at $30.67.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FOXF. Robert W. Baird dropped their price objective on Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday. Roth Mkm reduced their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Bank of America dropped their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Truist Financial cut their target price on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.67.

Fox Factory Stock Performance

The stock has a market capitalization of $1.32 billion, a PE ratio of 121.97, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60. The business’s fifty day moving average is $35.46 and its two-hundred day moving average is $41.21. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62.

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

Institutional Trading of Fox Factory

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in Fox Factory by 86.0% in the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after purchasing an additional 277 shares during the period. Signaturefd LLC boosted its position in Fox Factory by 301.1% during the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock valued at $30,000 after acquiring an additional 545 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Fox Factory in the 3rd quarter valued at $42,000. Fifth Third Bancorp raised its position in shares of Fox Factory by 26.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after acquiring an additional 261 shares in the last quarter. Finally, KBC Group NV boosted its position in Fox Factory by 36.5% during the third quarter. KBC Group NV now owns 1,377 shares of the company’s stock valued at $57,000 after purchasing an additional 368 shares in the last quarter.

About Fox Factory

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.