Fox Factory (NASDAQ:FOXF) Sets New 52-Week Low on Analyst Downgrade

Fox Factory Holding Corp. (NASDAQ:FOXF) reached a new 52-week low during trading on Monday after Robert W. Baird lowered their price target on the stock from $32.00 to $25.00. Robert W. Baird currently has a neutral rating on the stock. Fox Factory traded as low as $18.69 and last traded at $20.77, with a volume of 1015457 shares changing hands. The stock had previously closed at $20.91.

Several other research firms have also weighed in on FOXF. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group dropped their price target on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Truist Financial lowered their price target on Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Fox Factory currently has a consensus rating of “Hold” and a consensus target price of $38.14.

Institutional Trading of Fox Factory

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Fox Factory during the fourth quarter worth about $2,543,000. Disciplined Growth Investors Inc. MN purchased a new stake in Fox Factory in the 3rd quarter worth approximately $5,743,000. Advantage Alpha Capital Partners LP increased its position in shares of Fox Factory by 30.8% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 68,221 shares of the company’s stock valued at $2,065,000 after buying an additional 16,081 shares during the period. Caprock Group LLC lifted its stake in shares of Fox Factory by 133.7% in the 4th quarter. Caprock Group LLC now owns 22,396 shares of the company’s stock valued at $678,000 after purchasing an additional 12,813 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Fox Factory by 1,569.2% during the 4th quarter. Mutual of America Capital Management LLC now owns 104,657 shares of the company’s stock valued at $3,168,000 after buying an additional 98,387 shares in the last quarter.

Fox Factory Stock Down 6.4 %

The firm has a market cap of $817.97 million, a P/E ratio of 75.43, a P/E/G ratio of 1.45 and a beta of 1.56. The stock’s 50 day simple moving average is $25.79 and its two-hundred day simple moving average is $31.10. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The firm had revenue of $352.84 million for the quarter, compared to the consensus estimate of $321.31 million. As a group, research analysts forecast that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

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.