Fox Factory (NASDAQ:FOXF) Hits New 12-Month Low at $37.37

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) hit a new 52-week low during trading on Monday . The stock traded as low as $37.37 and last traded at $37.49, with a volume of 217936 shares. The stock had previously closed at $38.42.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. B. Riley decreased their price target 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. Robert W. Baird decreased their target price on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Truist Financial dropped their price target on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.00.

Fox Factory Price Performance

The company’s 50 day moving average price is $43.90 and its 200 day moving average price is $45.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 2.62 and a beta of 1.63.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $348.49 million for the quarter, compared to analyst estimates of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 earnings per share. On average, equities research analysts predict that Fox Factory Holding Corp. will post 1.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fox Factory news, CEO Michael C. Dennison acquired 4,800 shares of Fox Factory stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $41.44 per share, with a total value of $198,912.00. Following the completion of the purchase, the chief executive officer now owns 135,066 shares in the company, valued at $5,597,135.04. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Norden Group LLC raised its stake in shares of Fox Factory by 3,378.1% during the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock worth $14,914,000 after buying an additional 278,185 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Fox Factory by 6.9% in the 1st quarter. Sei Investments Co. now owns 223,173 shares of the company’s stock valued at $11,621,000 after purchasing an additional 14,328 shares during the period. Vanguard Group Inc. boosted its position in shares of Fox Factory by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock worth $286,279,000 after purchasing an additional 46,132 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fox Factory by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 421,003 shares of the company’s stock worth $28,409,000 after purchasing an additional 16,542 shares during the period. Finally, Wesbanco Bank Inc. acquired a new stake in shares of Fox Factory during the second quarter worth $626,000.

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.