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

Fox Factory Holding Corp. (NASDAQ:FOXF) reached a new 52-week low during trading on Tuesday . The company traded as low as $27.25 and last traded at $27.28, with a volume of 452841 shares. The stock had previously closed at $27.82.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. 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 note on Friday, November 1st. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Stifel Nicolaus raised shares of 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, December 11th. Finally, Robert W. Baird reduced their price target on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.33.

Fox Factory Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The company’s 50-day moving average price is $31.01 and its 200 day moving average price is $38.09. The stock has a market capitalization of $1.18 billion, a PE ratio of 108.47, a PEG ratio of 1.53 and a beta of 1.60.

Fox Factory (NASDAQ:FOXF) last posted 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 firm had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.05 EPS. On average, equities research analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of Fox Factory

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Fox Factory by 86.0% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after acquiring an additional 277 shares during the period. Signaturefd LLC boosted its position in shares of Fox Factory by 301.1% in the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after purchasing an additional 545 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Fox Factory in the 3rd quarter worth approximately $42,000. KBC Group NV increased its position in Fox Factory by 36.5% during the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock valued at $57,000 after buying an additional 368 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Fox Factory by 734.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,654 shares of the company’s stock valued at $128,000 after buying an additional 2,336 shares during 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.