Fox Factory (NASDAQ:FOXF) Reaches New 1-Year Low After Analyst Downgrade

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) reached a new 52-week low on Wednesday after Stifel Nicolaus lowered their price target on the stock from $56.00 to $45.00. Stifel Nicolaus currently has a hold rating on the stock. Fox Factory traded as low as $39.90 and last traded at $39.99, with a volume of 72353 shares. The stock had previously closed at $40.64.

FOXF has been the topic of several other reports. 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 research report on Friday, February 23rd. StockNews.com cut shares of Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Finally, Bank of America downgraded 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. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.00.

Institutional Trading of Fox Factory

Several hedge funds and other institutional investors have recently bought and sold shares of FOXF. FirstPurpose Wealth LLC grew its position in Fox Factory by 6.7% during the third quarter. FirstPurpose Wealth LLC now owns 2,907 shares of the company’s stock worth $288,000 after buying an additional 183 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Fox Factory by 3.3% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 6,662 shares of the company’s stock worth $660,000 after purchasing an additional 213 shares during the period. Mariner LLC raised its holdings in Fox Factory by 5.1% during the 3rd quarter. Mariner LLC now owns 4,491 shares of the company’s stock worth $445,000 after purchasing an additional 216 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of Fox Factory by 11.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,167 shares of the company’s stock worth $215,000 after buying an additional 217 shares during the period. Finally, CWM LLC boosted its stake in Fox Factory by 54.1% in the fourth quarter. CWM LLC now owns 624 shares of the company’s stock valued at $42,000 after acquiring an additional 219 shares during the last quarter.

Fox Factory Stock Down 1.6 %

The business’s fifty day simple moving average is $50.75 and its 200 day simple moving average is $62.71. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 3.42 and a beta of 1.64. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 earnings per share 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 for the quarter, compared to the consensus estimate of $327.07 million. During the same period in the prior year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. Equities analysts forecast that Fox Factory Holding Corp. will post 2.42 earnings per share for the current fiscal year.

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.