Fox Factory (NASDAQ:FOXF) Reaches New 12-Month Low – Here’s What Happened

Fox Factory Holding Corp. (NASDAQ:FOXF)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $28.83 and last traded at $28.86, with a volume of 210333 shares. The stock had previously closed at $29.87.

Analyst Ratings Changes

Several equities research analysts have recently commented on FOXF shares. Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, December 11th. Truist Financial decreased their price target on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Roth Mkm reduced their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Robert W. Baird cut their price target on Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Fox Factory has a consensus rating of “Hold” and a consensus target price of $40.67.

Fox Factory Stock Down 3.4 %

The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.20 billion, a P/E ratio of 111.00, a P/E/G ratio of 2.67 and a beta of 1.60. The stock’s 50-day simple moving average is $34.03 and its 200-day simple moving average is $40.37.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in shares of 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 during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Fox Factory in the second quarter valued at $53,294,000. Disciplined Growth Investors Inc. MN purchased a new position in shares of Fox Factory during the 3rd quarter valued at $5,743,000. D. E. Shaw & Co. Inc. grew its stake in shares of Fox Factory by 25.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock worth $32,483,000 after acquiring an additional 135,542 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its holdings in Fox Factory by 15.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock worth $38,471,000 after acquiring an additional 127,187 shares during the last quarter.

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.