Fox Factory (NASDAQ:FOXF) Hits New 52-Week Low After Analyst Downgrade

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday after Stifel Nicolaus lowered their price target on the stock from $40.00 to $34.00. Stifel Nicolaus currently has a buy rating on the stock. Fox Factory traded as low as $18.69 and last traded at $20.77, with a volume of 1015457 shares changing hands. The stock had previously closed at $20.91.

Several other research analysts also recently issued reports on FOXF. 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. Robert W. Baird lowered their target price on Fox Factory from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, April 4th. Finally, Jefferies Financial Group cut their price target on Fox Factory from $45.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $37.29.

Hedge Funds Weigh In On Fox Factory

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake in shares of Fox Factory by 142.8% in the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company's stock valued at $32,000 after acquiring an additional 807 shares in the last quarter. Quarry LP acquired a new position in shares of Fox Factory during the fourth quarter valued at about $45,000. KBC Group NV boosted its position in shares of Fox Factory by 80.4% during the 4th quarter. KBC Group NV now owns 2,484 shares of the company's stock worth $75,000 after purchasing an additional 1,107 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Fox Factory in the 4th quarter valued at about $143,000. Finally, Parallel Advisors LLC increased its position in Fox Factory by 102.4% in the 1st quarter. Parallel Advisors LLC now owns 5,146 shares of the company's stock valued at $120,000 after buying an additional 2,604 shares in the last quarter.

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Fox Factory Trading Down 0.4 %

The business has a 50 day moving average of $24.71 and a two-hundred day moving average of $30.15. The firm has a market capitalization of $826.31 million, a price-to-earnings ratio of 76.20, a P/E/G ratio of 1.45 and a beta of 1.56. 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 - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The company had revenue of $352.84 million for the quarter, compared to analyst estimates of $321.31 million. Equities analysts predict that Fox Factory Holding Corp. will post 1.31 EPS 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.