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

Fox Factory Holding Corp. (NASDAQ:FOXF) shares reached a new 52-week low on Monday . The stock traded as low as $28.83 and last traded at $28.86, with a volume of 210333 shares traded. The stock had previously closed at $29.87.

Analysts Set New Price Targets

FOXF has been the topic of several research reports. Roth Mkm decreased their target price on 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 lowered their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Truist Financial cut their price target on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Fox Factory presently has an average rating of “Hold” and an average price target of $40.67.

Fox Factory Price Performance

The stock has a market cap of $1.22 billion, a PE ratio of 112.20, a PEG ratio of 2.67 and a beta of 1.60. 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 stock’s 50-day moving average is $33.60 and its two-hundred day moving average is $40.14.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $359.10 million during the quarter, compared to analyst estimates of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. On average, equities analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Fox Factory

Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in Fox Factory by 25,005.1% in the second quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after acquiring an additional 1,578,822 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Fox Factory in the 2nd quarter valued at $53,294,000. Disciplined Growth Investors Inc. MN purchased a new stake in shares of Fox Factory during the 3rd quarter worth $5,743,000. D. E. Shaw & Co. Inc. grew its stake in shares of Fox Factory by 25.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock worth $32,483,000 after purchasing an additional 135,542 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in Fox Factory by 15.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock valued at $38,471,000 after buying an additional 127,187 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.