Fox Factory (NASDAQ:FOXF) Shares Down 4.6%

Fox Factory Holding Corp. (NASDAQ:FOXF)’s stock price fell 4.6% during trading on Tuesday . The company traded as low as $39.37 and last traded at $39.42. 235,524 shares were traded during mid-day trading, a decline of 62% from the average session volume of 614,732 shares. The stock had previously closed at $41.30.

Analyst Ratings Changes

A number of research firms have recently issued reports on FOXF. Stifel Nicolaus dropped their price objective on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Bank of America cut their price objective on Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Truist Financial decreased their price objective on Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday. B. Riley cut their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Roth Mkm decreased their price target on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $47.00.

Fox Factory Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43. The firm has a 50-day moving average of $47.79 and a 200-day moving average of $50.32. The firm has a market capitalization of $1.67 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 2.10 and a beta of 1.66.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. The firm had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.62%. The business’s revenue was down 13.0% on a year-over-year basis. During the same quarter last year, the business earned $1.21 earnings per share. On average, equities research analysts anticipate that Fox Factory Holding Corp. will post 2.4 EPS for the current fiscal year.

Insider Transactions at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison purchased 4,800 shares of Fox Factory stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the acquisition, the chief executive officer now directly owns 135,066 shares in the company, valued at $5,597,135.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael C. Dennison bought 11,250 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $44.30 per share, with a total value of $498,375.00. Following the transaction, the chief executive officer now owns 130,266 shares in the company, valued at approximately $5,770,783.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael C. Dennison purchased 4,800 shares of Fox Factory stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the transaction, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norden Group LLC increased its stake in shares of Fox Factory by 3,378.1% during the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after purchasing an additional 278,185 shares in the last quarter. Sei Investments Co. increased its position in Fox Factory by 6.9% during the 1st quarter. Sei Investments Co. now owns 223,173 shares of the company’s stock valued at $11,621,000 after buying an additional 14,328 shares in the last quarter. Vanguard Group Inc. raised its stake in Fox Factory by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock valued at $286,279,000 after buying an additional 46,132 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Fox Factory by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 421,003 shares of the company’s stock worth $28,409,000 after acquiring an additional 16,542 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its stake in shares of Fox Factory by 172.8% in the first quarter. Motley Fool Asset Management LLC now owns 41,704 shares of the company’s stock worth $2,172,000 after acquiring an additional 26,416 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.