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

Fox Factory Holding Corp. (NASDAQ:FOXF)’s share price reached a new 52-week low during trading on Wednesday after Truist Financial lowered their price target on the stock from $42.00 to $40.00. Truist Financial currently has a buy rating on the stock. Fox Factory traded as low as $28.28 and last traded at $28.41, with a volume of 39976 shares changing hands. The stock had previously closed at $29.61.

Several other equities analysts have also recently commented on the stock. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, December 11th. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Roth Mkm lowered their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Robert W. Baird lowered their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Bank of America decreased their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Fox Factory presently has an average rating of “Hold” and an average target price of $40.33.

Institutional Investors Weigh In On Fox Factory

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Fox Factory by 86.0% in the third quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after purchasing an additional 277 shares in the last quarter. KBC Group NV lifted its position in Fox Factory by 36.5% during the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after acquiring an additional 368 shares during the last quarter. Park Avenue Securities LLC lifted its position in Fox Factory by 7.3% during the 3rd quarter. Park Avenue Securities LLC now owns 6,023 shares of the company’s stock worth $250,000 after acquiring an additional 410 shares during the last quarter. FORA Capital LLC lifted its position in Fox Factory by 5.9% during the 3rd quarter. FORA Capital LLC now owns 9,117 shares of the company’s stock worth $378,000 after acquiring an additional 507 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Fox Factory by 7.9% during the 2nd quarter. Inspire Investing LLC now owns 7,318 shares of the company’s stock worth $353,000 after acquiring an additional 533 shares during the last quarter.

Fox Factory Stock Performance

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 111.00, a price-to-earnings-growth ratio of 2.55 and a beta of 1.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The stock’s 50-day simple moving average is $31.69 and its two-hundred day simple moving average is $38.82.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $359.10 million for the quarter, compared to analyst estimates of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. Analysts forecast that Fox Factory Holding Corp. will post 1.31 earnings per share for the current 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.