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

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $27.25 and last traded at $27.28, with a volume of 452841 shares. The stock had previously closed at $27.82.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com upgraded Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. 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 research note on Friday, November 1st. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, December 11th. Truist Financial dropped their price target on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Robert W. Baird decreased their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Fox Factory presently has an average rating of “Hold” and a consensus target price of $40.33.

Fox Factory Price Performance

The company has a market cap of $1.14 billion, a price-to-earnings ratio of 104.93, a PEG ratio of 2.55 and a beta of 1.60. The company’s 50 day moving average price is $31.42 and its 200-day moving average price is $38.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21.

Fox Factory (NASDAQ:FOXF) last posted its quarterly 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). The company had revenue of $359.10 million during the quarter, compared to the consensus estimate of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. Fox Factory’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS. On average, equities research analysts forecast that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fox Factory

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position 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 worth $66,243,000 after acquiring an additional 6,308 shares in the last quarter. Pacer Advisors Inc. grew its position in Fox Factory by 25,005.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after purchasing an additional 1,578,822 shares in the last quarter. Geode Capital Management LLC raised its stake in Fox Factory by 0.9% during 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 during the period. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Fox Factory by 15.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock valued at $38,471,000 after purchasing an additional 127,187 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of 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 buying an additional 135,542 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.