Fox Factory (NASDAQ:FOXF) Sets New 12-Month Low – Should You Sell?

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) reached a new 52-week low on Monday . The company traded as low as $29.89 and last traded at $29.89, with a volume of 244139 shares changing hands. The stock had previously closed at $31.30.

Analyst Ratings Changes

Several equities analysts recently weighed in on FOXF shares. Truist Financial lowered their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Robert W. Baird decreased 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. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, December 11th. Finally, Roth Mkm cut their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.67.

Fox Factory Stock Down 5.1 %

The company has a market capitalization of $1.24 billion, a PE ratio of 120.38, a price-to-earnings-growth ratio of 2.67 and a beta of 1.60. 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 firm has a 50-day moving average of $34.99 and a two-hundred day moving average of $40.95.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FOXF. Fifth Third Bancorp boosted its position in Fox Factory by 26.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after buying an additional 261 shares during the period. GAMMA Investing LLC grew its stake in Fox Factory by 86.0% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after purchasing an additional 277 shares in the last quarter. KBC Group NV increased its holdings in Fox Factory by 36.5% during the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after purchasing an additional 368 shares during the period. Park Avenue Securities LLC raised its position in Fox Factory by 7.3% in the 3rd quarter. Park Avenue Securities LLC now owns 6,023 shares of the company’s stock valued at $250,000 after purchasing an additional 410 shares in the last quarter. Finally, FORA Capital LLC boosted its stake in shares of Fox Factory by 5.9% in the 3rd quarter. FORA Capital LLC now owns 9,117 shares of the company’s stock valued at $378,000 after buying an additional 507 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.