Fox Factory (NASDAQ:FOXF) Hits New 1-Year Low at $41.02

Fox Factory Holding Corp. (NASDAQ:FOXF)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $41.02 and last traded at $41.19, with a volume of 519127 shares changing hands. The stock had previously closed at $41.83.

Wall Street Analysts Forecast Growth

FOXF has been the subject of a number of analyst reports. Truist Financial dropped their price target on Fox Factory from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. StockNews.com lowered Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Stifel Nicolaus lowered their price objective on Fox Factory from $69.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Finally, Bank of America lowered Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.20.

Fox Factory Stock Performance

The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 3.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.70 and a quick ratio of 1.91. The firm has a 50 day moving average price of $51.83 and a 200-day moving average price of $63.93.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.34). Fox Factory had a net margin of 8.25% and a return on equity of 13.86%. The company had revenue of $332.50 million during the quarter, compared to analyst estimates of $327.07 million. During the same quarter in the previous year, the business posted $1.43 earnings per share. The firm’s revenue was down 18.6% on a year-over-year basis. As a group, sell-side analysts expect that Fox Factory Holding Corp. will post 2.42 earnings per share for the current fiscal year.

Institutional Trading of Fox Factory

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of Fox Factory during the fourth quarter worth about $29,000. Quest Partners LLC acquired a new stake in shares of Fox Factory during the fourth quarter worth about $31,000. Covestor Ltd increased its position in Fox Factory by 58.4% in the 1st quarter. Covestor Ltd now owns 358 shares of the company’s stock valued at $35,000 after acquiring an additional 132 shares during the period. Operose Advisors LLC acquired a new position in Fox Factory in the 3rd quarter valued at about $37,000. Finally, Assetmark Inc. increased its position in Fox Factory by 171.4% in the 3rd quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after acquiring an additional 240 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.