Fox Factory (NASDAQ:FOXF) Hits New 1-Year Low at $37.37

Fox Factory Holding Corp. (NASDAQ:FOXF) hit a new 52-week low during trading on Monday . The company 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.

Analysts Set New Price Targets

FOXF has been the topic of a number of research reports. Robert W. Baird dropped their target price on Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. B. Riley lowered their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Truist Financial cut their price objective on Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.00.

Fox Factory Trading Up 1.6 %

The company has a market capitalization of $1.52 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 2.62 and a beta of 1.63. The company has a fifty day simple moving average of $43.90 and a two-hundred day simple moving average of $45.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The firm had revenue of $348.49 million during the quarter, compared to analyst estimates of $346.22 million. During the same period in the previous year, the company earned $1.21 EPS. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. On average, analysts forecast 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 purchased 4,800 shares of the stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $41.44 per share, with a total value of $198,912.00. Following the completion of the transaction, the chief executive officer now owns 135,066 shares in the company, valued at approximately $5,597,135.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Fox Factory

Several hedge funds have recently modified their holdings of FOXF. Pacer Advisors Inc. raised its stake in Fox Factory by 25,005.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after purchasing an additional 1,578,822 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Fox Factory during the second quarter valued at about $53,294,000. Norges Bank bought a new stake in shares of Fox Factory in the fourth quarter valued at about $31,429,000. Norden Group LLC grew its position in 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 in the last quarter. Finally, Vanguard Group Inc. increased its stake in Fox Factory by 5.4% during the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after acquiring an additional 228,339 shares during the period.

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.