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

Fox Factory Holding Corp. (NASDAQ:FOXF) reached 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 trading hands. The stock had previously closed at $41.83.

Wall Street Analyst Weigh In

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

Fox Factory Stock Down 0.6 %

The business’s 50 day simple moving average is $51.83 and its 200-day simple moving average is $63.93. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 3.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FOXF. FIL Ltd raised its holdings in shares of Fox Factory by 99.4% during the 4th quarter. FIL Ltd now owns 1,695,034 shares of the company’s stock valued at $114,381,000 after purchasing an additional 844,972 shares in the last quarter. Norges Bank bought a new position in shares of Fox Factory during the 4th quarter valued at $31,429,000. FMR LLC raised its holdings in shares of Fox Factory by 46.2% during the 3rd quarter. FMR LLC now owns 1,136,720 shares of the company’s stock valued at $112,626,000 after purchasing an additional 359,168 shares in the last quarter. Norden Group LLC raised its holdings in shares of Fox Factory by 3,378.1% during the 1st quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after purchasing an additional 278,185 shares in the last quarter. Finally, Bamco Inc. NY bought a new position in Fox Factory in the 3rd quarter worth $27,247,000.

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.