Fox Factory (NASDAQ:FOXF) Hits New 1-Year Low – Here’s Why

Fox Factory Holding Corp. (NASDAQ:FOXF)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $31.09 and last traded at $31.59, with a volume of 144056 shares changing hands. The stock had previously closed at $31.86.

Analyst Ratings Changes

Several research firms recently commented on FOXF. Truist Financial reduced their target price on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Bank of America cut their price target on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Roth Mkm cut their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Robert W. Baird cut their target price 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. Finally, B. Riley cut their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $41.50.

Fox Factory Stock Performance

The company has a market capitalization of $1.34 billion, a PE ratio of 123.93, a PEG ratio of 2.60 and a beta of 1.65. The business’s 50-day moving average is $38.03 and its 200-day moving average is $42.64. 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 earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) 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 analysts’ expectations of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.05 earnings per share. On average, research analysts anticipate that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Fox Factory by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,002,109 shares of the company’s stock valued at $41,595,000 after purchasing an additional 8,474 shares during the last quarter. Disciplined Growth Investors Inc. MN purchased a new stake in Fox Factory in the 3rd quarter worth approximately $5,743,000. M&T Bank Corp raised its position in shares of Fox Factory by 70.4% during the 3rd quarter. M&T Bank Corp now owns 36,795 shares of the company’s stock valued at $1,528,000 after purchasing an additional 15,201 shares during the period. Barclays PLC boosted its stake in shares of Fox Factory by 474.7% in the third quarter. Barclays PLC now owns 122,806 shares of the company’s stock worth $5,097,000 after acquiring an additional 101,437 shares during the period. Finally, MML Investors Services LLC grew its holdings in Fox Factory by 13.1% during the 3rd quarter. MML Investors Services LLC now owns 26,050 shares of the company’s stock valued at $1,081,000 after buying an additional 3,018 shares in 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.