Fox Factory (NASDAQ:FOXF) Sets New 52-Week Low – Here’s What Happened

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) hit a new 52-week low on Monday . The company traded as low as $29.89 and last traded at $29.89, with a volume of 244139 shares. The stock had previously closed at $31.30.

Wall Street Analysts Forecast Growth

FOXF has been the subject of several research analyst reports. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Bank of America lowered their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Robert W. Baird cut their target price 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. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, December 11th. Finally, Roth Mkm cut their price objective on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Five investment 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, Fox Factory has a consensus rating of “Hold” and an average price target of $40.67.

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 firm has a market capitalization of $1.24 billion, a PE ratio of 113.97, a price-to-earnings-growth ratio of 2.67 and a beta of 1.60. The firm’s 50 day moving average price is $34.62 and its 200-day moving average price is $40.72.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The business 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 business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 EPS. On average, research analysts expect that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Fox Factory

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in shares of Fox Factory by 26.5% in the second quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after purchasing an additional 261 shares during the period. GAMMA Investing LLC raised its holdings in shares of Fox Factory by 86.0% during the third 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 last quarter. KBC Group NV boosted its stake in shares of Fox Factory by 36.5% in the third quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after acquiring an additional 368 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Fox Factory by 7.3% during the third quarter. Park Avenue Securities LLC now owns 6,023 shares of the company’s stock worth $250,000 after purchasing an additional 410 shares in the last quarter. Finally, FORA Capital LLC raised its stake in Fox Factory by 5.9% in the 3rd quarter. FORA Capital LLC now owns 9,117 shares of the company’s stock valued at $378,000 after purchasing an additional 507 shares during 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.