Fox Factory (NASDAQ:FOXF) Reaches New 12-Month Low – Time to Sell?

Fox Factory Holding Corp. (NASDAQ:FOXF)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $29.89 and last traded at $29.89, with a volume of 244139 shares trading hands. The stock had previously closed at $31.30.

Analysts Set New Price Targets

Several research firms have recently weighed in on FOXF. Bank of America cut their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Roth Mkm reduced their target price on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Robert W. Baird dropped their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, December 11th. Finally, Truist Financial cut their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.67.

Fox Factory Stock Down 2.5 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The company has a fifty day simple moving average of $34.62 and a two-hundred day simple moving average of $40.72. The firm has a market capitalization of $1.24 billion, a PE ratio of 113.97, a PEG ratio of 2.67 and a beta of 1.60.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $366.86 million. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Analysts forecast that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

A number of hedge funds have recently made changes to their positions in FOXF. Pacer Advisors Inc. lifted its position in shares of Fox Factory by 25,005.1% during the second quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after buying an additional 1,578,822 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Fox Factory during the second quarter valued at approximately $53,294,000. Disciplined Growth Investors Inc. MN acquired a new stake in Fox Factory in the third quarter valued at approximately $5,743,000. D. E. Shaw & Co. Inc. grew its holdings in Fox Factory by 25.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock worth $32,483,000 after purchasing an additional 135,542 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its position in shares of Fox Factory by 15.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock worth $38,471,000 after purchasing an additional 127,187 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.