Fox Factory (NASDAQ:FOXF) Sets New 52-Week Low – Time to Sell?

Fox Factory Holding Corp. (NASDAQ:FOXF)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $30.68 and last traded at $30.72, with a volume of 135988 shares trading hands. The stock had previously closed at $31.62.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America lowered their price objective on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Truist Financial decreased their price target on Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Robert W. Baird decreased their price target on Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. StockNews.com raised Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, Roth Mkm decreased their price target on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.50.

Fox Factory Price Performance

The firm has a fifty day simple moving average of $35.84 and a 200 day simple moving average of $41.46. The company has a market capitalization of $1.28 billion, a PE ratio of 117.97, a P/E/G ratio of 2.58 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.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $366.86 million. During the same quarter in the previous year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FOXF. GAMMA Investing LLC increased its holdings in shares of Fox Factory by 86.0% in the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after acquiring an additional 277 shares during the period. Signaturefd LLC grew its stake in Fox Factory by 301.1% during the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock worth $30,000 after buying an additional 545 shares during the last quarter. nVerses Capital LLC purchased a new position in Fox Factory during the 3rd quarter worth $42,000. KBC Group NV grew its stake 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 buying an additional 368 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after buying an additional 261 shares during the last quarter.

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.