Fox Factory (NASDAQ:FOXF) Hits New 52-Week Low at $41.02

Fox Factory Holding Corp. (NASDAQ:FOXF) shares hit a new 52-week low on Wednesday . The stock traded as low as $41.02 and last traded at $41.19, with a volume of 519127 shares traded. The stock had previously closed at $41.83.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FOXF. Bank of America cut shares of Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Friday, February 23rd. Stifel Nicolaus lowered their price target on shares of Fox Factory from $69.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. StockNews.com cut shares of Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Finally, Truist Financial decreased their target price on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.20.

Fox Factory Trading Down 1.5 %

The stock’s fifty day simple moving average is $52.75 and its 200-day simple moving average is $64.25. The firm has a market cap of $1.73 billion, a PE ratio of 14.68, a PEG ratio of 3.55 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.70 and a quick ratio of 1.91.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). The company had revenue of $332.50 million during the quarter, compared to analysts’ expectations of $327.07 million. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The company’s quarterly revenue was down 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 EPS. On average, sell-side analysts forecast that Fox Factory Holding Corp. will post 2.42 earnings per share for the current year.

Institutional Trading of Fox Factory

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cannon Global Investment Management LLC acquired a new stake in shares of Fox Factory in the first quarter worth $260,000. Brookstone Capital Management increased its stake in shares of Fox Factory by 14.0% in the first quarter. Brookstone Capital Management now owns 7,340 shares of the company’s stock worth $382,000 after acquiring an additional 903 shares during the period. Partnership Wealth Management LLC acquired a new stake in shares of Fox Factory in the first quarter worth $859,000. Vanguard Group Inc. increased its stake in shares of Fox Factory by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock worth $286,279,000 after acquiring an additional 46,132 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Fox Factory in the fourth quarter worth $379,000.

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.