Fox Factory (NASDAQ:FOXF) Reaches New 52-Week Low – Here’s What Happened

Fox Factory Holding Corp. (NASDAQ:FOXF) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $23.19 and last traded at $23.65, with a volume of 38218 shares changing hands. The stock had previously closed at $24.26.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Truist Financial lowered their price target on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, December 11th. Robert W. Baird decreased their price target on Fox Factory from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, Jefferies Financial Group reduced 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 report on Friday, February 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Fox Factory has a consensus rating of “Hold” and a consensus target price of $39.14.

Fox Factory Stock Down 3.5 %

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 firm has a market capitalization of $975.82 million, a P/E ratio of 90.07, a PEG ratio of 1.45 and a beta of 1.65. The business’s fifty day moving average price is $26.42 and its two-hundred day moving average price is $31.68.

Fox Factory (NASDAQ:FOXF) last issued 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 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 analyst estimates of $321.31 million. Equities analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fox Factory

Large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Fox Factory by 5.5% during the 4th 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. Voloridge Investment Management LLC increased its holdings in shares of Fox Factory by 31.8% during the 4th quarter. Voloridge Investment Management LLC now owns 617,352 shares of the company’s stock valued at $18,687,000 after purchasing an additional 148,925 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Fox Factory by 41.4% in the 4th quarter. Squarepoint Ops LLC now owns 88,766 shares of the company’s stock valued at $2,687,000 after purchasing an additional 26,009 shares during the period. Twinbeech Capital LP purchased a new stake in Fox Factory during the fourth quarter worth $479,000. Finally, Two Sigma Advisers LP acquired a new stake in Fox Factory during the fourth quarter valued at $378,000.

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.