Fox Factory (NASDAQ:FOXF) Reaches New 12-Month Low - Time to Sell?

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $28.83 and last traded at $28.86, with a volume of 210333 shares changing hands. The stock had previously closed at $29.87.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FOXF. Bank of America decreased their target price on shares of Fox Factory from $53.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Truist Financial decreased their price objective on Fox Factory from $54.00 to $42.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Robert W. Baird dropped their target price on Fox Factory from $45.00 to $38.00 and set a "neutral" rating for the company in a report 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, Stifel Nicolaus upgraded Fox Factory from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and two 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 price target of $40.67.

Fox Factory Stock Down 2.7 %

The firm has a fifty day moving average price of $33.81 and a 200 day moving average price of $40.25. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 111.74, a P/E/G ratio of 2.67 and a beta of 1.60. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.07). Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business had revenue of $359.10 million during the quarter, compared to analyst estimates of $366.86 million. During the same period in the prior year, the firm posted $1.05 EPS. Fox Factory's revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Fox Factory

Large investors have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Fox Factory by 0.4% in the third quarter. State Street Corp now owns 1,596,222 shares of the company's stock valued at $66,243,000 after purchasing an additional 6,308 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Fox Factory by 25,005.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company's stock valued at $76,388,000 after buying an additional 1,578,822 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Fox Factory during the second quarter worth $53,294,000. Geode Capital Management LLC raised its position in shares of Fox Factory by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,002,109 shares of the company's stock worth $41,595,000 after acquiring an additional 8,474 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its stake in shares of Fox Factory by 15.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company's stock valued at $38,471,000 after acquiring an additional 127,187 shares during the period.

Fox Factory Company Profile

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.