Fox Factory (NASDAQ:FOXF) Reaches New 52-Week Low – Should You Sell?

Fox Factory Holding Corp. (NASDAQ:FOXF) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $24.83 and last traded at $24.94, with a volume of 279358 shares. The stock had previously closed at $26.55.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FOXF. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group reduced their target price on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 28th. StockNews.com upgraded Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Robert W. Baird reduced their price objective on Fox Factory from $38.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Finally, Truist Financial lowered their target price on Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.14.

Fox Factory Trading Down 6.7 %

The company has a market cap of $1.03 billion, a PE ratio of 95.27, a price-to-earnings-growth ratio of 1.45 and a beta of 1.65. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $27.50 and a two-hundred day moving average of $33.07.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $352.84 million during the quarter, compared to the consensus estimate of $321.31 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. As a group, sell-side analysts predict that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Fox Factory

Several institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in Fox Factory during the 4th quarter worth about $45,000. KBC Group NV increased its position in shares of Fox Factory by 36.5% during 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 during the period. TD Waterhouse Canada Inc. purchased a new stake in shares of Fox Factory in the fourth quarter worth about $143,000. Magnetar Financial LLC bought a new position in shares of Fox Factory in the fourth quarter valued at approximately $206,000. Finally, Aristides Capital LLC purchased a new position in Fox Factory during the fourth quarter valued at approximately $206,000.

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.