Fox Factory (NASDAQ:FOXF) Shares Down 7.3% – Time to Sell?

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) fell 7.3% during trading on Friday . The company traded as low as $24.02 and last traded at $23.86. 142,627 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 637,248 shares. The stock had previously closed at $25.74.

Wall Street Analyst Weigh In

FOXF has been the topic of a number of research reports. Truist Financial decreased their target price on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, December 11th. Robert W. Baird dropped their target price on Fox Factory from $38.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Finally, Jefferies Financial Group cut their target price on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.14.

Fox Factory Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 93.31, a PEG ratio of 1.45 and a beta of 1.65. The firm has a 50 day simple moving average of $26.42 and a 200-day simple moving average of $31.71.

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

Institutional Trading of Fox Factory

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Fox Factory in the fourth quarter valued at $45,000. KBC Group NV boosted its holdings in Fox Factory by 80.4% during the 4th quarter. KBC Group NV now owns 2,484 shares of the company’s stock valued at $75,000 after acquiring an additional 1,107 shares during the period. TD Waterhouse Canada Inc. acquired a new position in Fox Factory in the 4th quarter valued at about $143,000. Magnetar Financial LLC purchased a new stake in Fox Factory during the fourth quarter worth about $206,000. Finally, Aristides Capital LLC acquired a new stake in shares of Fox Factory during the fourth quarter worth about $206,000.

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.