Fox Factory (NASDAQ:FOXF) Reaches New 52-Week Low – What’s Next?

Fox Factory Holding Corp. (NASDAQ:FOXF)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $31.09 and last traded at $31.59, with a volume of 144056 shares trading hands. The stock had previously closed at $31.86.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America reduced their price target on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Robert W. Baird cut their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. B. Riley dropped their price objective 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. Roth Mkm reduced their price objective 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. Finally, Truist Financial cut their price objective on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a report on Friday, November 1st. One equities research 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. According to data from MarketBeat.com, Fox Factory has an average rating of “Hold” and a consensus target price of $41.50.

Fox Factory Trading Down 0.4 %

The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average is $38.12 and its two-hundred day moving average is $42.72. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 122.54, a PEG ratio of 2.62 and a beta of 1.65.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business had revenue of $359.10 million for the quarter, compared to analyst estimates of $366.86 million. During the same quarter in the prior year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts predict that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 228,339 shares during the period. State Street Corp boosted its stake in shares of Fox Factory by 0.4% in the third quarter. State Street Corp now owns 1,596,222 shares of the company’s stock valued at $66,243,000 after purchasing an additional 6,308 shares during the period. Pacer Advisors Inc. boosted its holdings in Fox Factory by 25,005.1% in the second 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 bought a new stake in shares of Fox Factory in the second quarter worth $53,294,000. Finally, Geode Capital Management LLC raised its stake in shares of Fox Factory by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,002,109 shares of the company’s stock valued at $41,595,000 after purchasing an additional 8,474 shares in the last quarter.

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.