Fox Factory (NASDAQ:FOXF) Reaches New 1-Year Low at $38.67

Fox Factory Holding Corp. (NASDAQ:FOXF)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $38.67 and last traded at $39.08, with a volume of 80691 shares. The stock had previously closed at $40.22.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FOXF. Truist Financial lowered their price target on Fox Factory from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Bank of America downgraded shares of Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Friday, February 23rd. Stifel Nicolaus decreased their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Finally, StockNews.com cut shares of Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Fox Factory currently has an average rating of “Hold” and a consensus price target of $66.00.

Fox Factory Stock Performance

The stock has a market cap of $1.62 billion, a PE ratio of 14.11, a PEG ratio of 3.40 and a beta of 1.64. The company’s 50-day moving average price is $48.10 and its two-hundred day moving average price is $60.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The firm had revenue of $332.50 million during the quarter, compared to the consensus estimate of $327.07 million. During the same period last year, the business earned $1.43 EPS. Fox Factory’s revenue was down 18.6% on a year-over-year basis. On average, equities research analysts forecast that Fox Factory Holding Corp. will post 2.42 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Fox Factory in the fourth quarter worth $29,000. Quest Partners LLC bought a new stake in Fox Factory during the 4th quarter valued at about $31,000. Operose Advisors LLC bought a new stake in Fox Factory during the 3rd quarter valued at about $37,000. Assetmark Inc. increased its position in Fox Factory by 171.4% during the 3rd quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after purchasing an additional 240 shares during the period. Finally, CWM LLC grew its position in shares of Fox Factory by 54.1% in the 4th quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after buying an additional 219 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.