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

Fox Factory Holding Corp. (NASDAQ:FOXF) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $24.83 and last traded at $24.94, with a volume of 279358 shares changing hands. The stock had previously closed at $26.55.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Truist Financial reduced their price objective on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, December 11th. Robert W. Baird cut their price target on shares of Fox Factory from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group cut their price target on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Fox Factory currently has an average rating of “Hold” and a consensus price target of $39.14.

Fox Factory Trading Down 3.5 %

The firm has a market cap of $1.01 billion, a P/E ratio of 93.50, a price-to-earnings-growth ratio of 1.45 and a beta of 1.65. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The firm’s 50-day simple moving average is $27.29 and its 200 day simple moving average is $32.90.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The business had revenue of $352.84 million for the quarter, compared to analyst estimates of $321.31 million. As a group, analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Institutional Trading of Fox Factory

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Fox Factory in the fourth quarter valued at approximately $45,000. KBC Group NV increased its holdings in Fox Factory by 36.5% during the 3rd 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 period. TD Waterhouse Canada Inc. purchased a new stake in Fox Factory in the 4th quarter worth approximately $143,000. Magnetar Financial LLC purchased a new stake in Fox Factory in the 4th quarter worth approximately $206,000. Finally, Aristides Capital LLC purchased a new stake in Fox Factory in the 4th quarter worth approximately $206,000.

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.