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

Fox Factory Holding Corp. (NASDAQ:FOXF) hit a new 52-week low on Monday . The stock traded as low as $26.30 and last traded at $25.85, with a volume of 9621 shares traded. The stock had previously closed at $27.32.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FOXF. Roth Mkm decreased their target price on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company 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 target price for the company in a report on Wednesday, December 11th. 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. Truist Financial reduced their target price on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, StockNews.com raised Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.33.

Fox Factory Price Performance

The company has a 50-day moving average of $29.70 and a 200-day moving average of $36.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 103.27, a PEG ratio of 1.50 and a beta of 1.58.

Institutional Investors Weigh In On Fox Factory

Several hedge funds have recently modified their holdings of FOXF. Disciplined Growth Investors Inc. MN acquired a new position in shares of Fox Factory during the third quarter worth about $5,743,000. Thrivent Financial for Lutherans raised its stake in shares of Fox Factory by 89.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 68,532 shares of the company’s stock worth $2,844,000 after buying an additional 32,263 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Fox Factory by 271.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company’s stock valued at $7,921,000 after buying an additional 139,512 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 valued at $5,097,000 after buying an additional 101,437 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in Fox Factory by 5.7% during the third quarter. Royce & Associates LP now owns 302,349 shares of the company’s stock worth $12,547,000 after acquiring an additional 16,410 shares during the period.

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.