Fox Factory (NASDAQ:FOXF) Reaches New 52-Week Low – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FOXF shares. 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 report on Friday, November 1st. Bank of America decreased their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. B. Riley decreased 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 report on Friday, August 2nd. Roth Mkm dropped their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Truist Financial cut their target price on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.50.

Fox Factory Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The company has a fifty day moving average of $38.12 and a 200 day moving average of $42.72. The firm has a market capitalization of $1.32 billion, a P/E ratio of 122.54, a PEG ratio of 2.62 and a beta of 1.65.

Fox Factory (NASDAQ:FOXF) last announced its earnings results 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). The business 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%. Fox Factory’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. Sell-side analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Fox Factory by 86.0% in the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after purchasing an additional 277 shares in the last quarter. Signaturefd LLC raised its position in shares of Fox Factory by 301.1% during the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock valued at $30,000 after purchasing an additional 545 shares during the period. nVerses Capital LLC bought a new position in shares of Fox Factory in the third quarter worth about $42,000. KBC Group NV grew 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 valued at $57,000 after buying an additional 368 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Fox Factory by 26.5% in the second quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after buying an additional 261 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.