Fox Factory (NASDAQ:FOXF) Trading Down 4.6%

Fox Factory Holding Corp. (NASDAQ:FOXF) shares were down 4.6% during trading on Tuesday . The stock traded as low as $39.37 and last traded at $39.42. Approximately 235,524 shares traded hands during trading, a decline of 62% from the average daily volume of 614,732 shares. The stock had previously closed at $41.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FOXF shares. Robert W. Baird decreased their target price on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday. Roth Mkm lowered their price target on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Bank of America cut their price objective on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Stifel Nicolaus lowered their target price on Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Finally, B. Riley dropped their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.00.

Fox Factory Trading Down 2.9 %

The company’s 50 day simple moving average is $47.79 and its two-hundred day simple moving average is $50.32. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 2.10 and a beta of 1.66. The company has a quick ratio of 1.85, a current ratio of 3.43 and a debt-to-equity ratio of 0.63.

Fox Factory (NASDAQ:FOXF) last announced 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 7.62% and a net margin of 3.07%. The firm had revenue of $348.49 million for the quarter, compared to the consensus estimate of $346.22 million. During the same period in the previous year, the business earned $1.21 EPS. The firm’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, research analysts anticipate that Fox Factory Holding Corp. will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Thomas L. Fletcher sold 2,000 shares of Fox Factory stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $44.41, for a total value of $88,820.00. Following the completion of the sale, the insider now directly owns 11,311 shares in the company, valued at approximately $502,321.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Thomas L. Fletcher sold 2,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $44.41, for a total value of $88,820.00. Following the transaction, the insider now directly owns 11,311 shares of the company’s stock, valued at approximately $502,321.51. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael C. Dennison purchased 4,800 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $41.44 per share, with a total value of $198,912.00. Following the transaction, the chief executive officer now owns 135,066 shares in the company, valued at approximately $5,597,135.04. The disclosure for this purchase can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Fox Factory

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in Fox Factory during the fourth quarter valued at approximately $29,000. Quest Partners LLC purchased a new position in shares of Fox Factory during the 4th quarter valued at approximately $31,000. CWM LLC lifted its stake in shares of Fox Factory by 54.1% in the 4th quarter. CWM LLC now owns 624 shares of the company’s stock valued at $42,000 after purchasing an additional 219 shares during the period. YHB Investment Advisors Inc. purchased a new stake in Fox Factory during the first quarter worth $42,000. Finally, TFO Wealth Partners LLC grew its position in Fox Factory by 14,180.0% during the fourth quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock valued at $48,000 after buying an additional 709 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.