Fox Factory (NASDAQ:FOXF) Sets New 12-Month Low Following Analyst Downgrade

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) reached a new 52-week low 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. The stock had previously closed at $20.91.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus raised 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. Jefferies Financial Group decreased their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Truist Financial dropped their price objective on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.14.

Institutional Trading of Fox Factory

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in shares of Fox Factory by 102.4% in the first quarter. Parallel Advisors LLC now owns 5,146 shares of the company’s stock worth $120,000 after acquiring an additional 2,604 shares during the period. GAMMA Investing LLC grew its stake in shares of Fox Factory by 8,164.1% in the 1st quarter. GAMMA Investing LLC now owns 39,585 shares of the company’s stock valued at $924,000 after buying an additional 39,106 shares during the period. Versant Capital Management Inc raised its stake in Fox Factory by 142.8% during the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company’s stock worth $32,000 after buying an additional 807 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Fox Factory by 5.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,410 shares of the company’s stock worth $2,192,000 after purchasing an additional 3,772 shares during the period. Finally, Voloridge Investment Management LLC raised its holdings in Fox Factory by 31.8% during the fourth quarter. Voloridge Investment Management LLC now owns 617,352 shares of the company’s stock worth $18,687,000 after buying an additional 148,925 shares during the last quarter.

Fox Factory Stock Performance

The firm has a market cap of $766.25 million, a P/E ratio of 70.66, a PEG ratio of 1.45 and a beta of 1.56. 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 company’s 50-day moving average is $25.21 and its two-hundred day moving average is $30.67.

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

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.