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

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

Wall Street Analysts Forecast Growth

FOXF has been the topic of several recent research reports. Robert W. Baird reduced their target price 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. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, December 11th. Truist Financial reduced their target price on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Jefferies Financial Group reduced their target price 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.14.

Fox Factory Stock Performance

The company has a market capitalization of $1.01 billion, a PE ratio of 93.50, a PEG ratio of 1.45 and a beta of 1.65. The business’s 50-day moving average is $27.29 and its 200-day moving average is $32.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The company had revenue of $352.84 million during the quarter, compared to analysts’ expectations of $321.31 million. On average, research analysts anticipate that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Institutional Trading of Fox Factory

A number of large investors have recently made changes to their positions in FOXF. Quarry LP bought a new position in shares of Fox Factory during the 4th quarter valued at approximately $45,000. KBC Group NV increased its position in Fox Factory by 36.5% during the third quarter. KBC Group NV now owns 1,377 shares of the company’s stock valued at $57,000 after acquiring an additional 368 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Fox Factory during the fourth quarter valued at $143,000. Magnetar Financial LLC purchased a new stake in shares of Fox Factory during the fourth quarter valued at $206,000. Finally, Aristides Capital LLC purchased a new stake in shares of Fox Factory during the fourth quarter valued at $206,000.

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.