Fox Factory (NASDAQ:FOXF) Hits New 12-Month Low – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts have commented on FOXF shares. Bank of America dropped their price target on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Robert W. Baird cut their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. 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 note on Wednesday, December 11th. Roth Mkm cut 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. Finally, StockNews.com raised Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.67.

Fox Factory Stock Performance

The stock has a fifty day moving average of $33.60 and a 200-day moving average of $40.14. The stock has a market cap of $1.22 billion, a PE ratio of 112.20, a price-to-earnings-growth ratio of 2.67 and a beta of 1.60. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOXF. GAMMA Investing LLC boosted its stake in shares of Fox Factory by 86.0% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after acquiring an additional 277 shares in the last quarter. Signaturefd LLC raised its holdings in Fox Factory by 301.1% during the third quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after purchasing an additional 545 shares during the last quarter. nVerses Capital LLC purchased a new stake in Fox Factory during the third quarter worth $42,000. Fifth Third Bancorp grew its holdings in 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 last quarter. Finally, KBC Group NV increased its position 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 valued at $57,000 after buying an additional 368 shares in 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.