Fox Factory (NASDAQ:FOXF) Hits New 12-Month Low - What's Next?

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $27.25 and last traded at $27.28, with a volume of 452841 shares traded. The stock had previously closed at $27.82.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FOXF. Truist Financial lowered their price objective on shares of Fox Factory from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded Fox Factory from a "sell" rating to a "hold" rating in a research note on Thursday, November 28th. Roth Mkm lowered their price target on shares of Fox Factory from $45.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Stifel Nicolaus raised shares of Fox Factory from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Wednesday, December 11th. Finally, Robert W. Baird lowered their target price on shares of Fox Factory from $45.00 to $38.00 and set a "neutral" rating on the stock in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $40.33.

Fox Factory Price Performance

The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The firm's fifty day moving average price is $31.30 and its 200 day moving average price is $38.31. The stock has a market cap of $1.15 billion, a PE ratio of 106.20, a P/E/G ratio of 2.55 and a beta of 1.60.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). The company had revenue of $359.10 million during the quarter, compared to analysts' expectations of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. As a group, equities analysts expect that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Fox Factory

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Fox Factory by 86.0% in the third quarter. GAMMA Investing LLC now owns 599 shares of the company's stock worth $25,000 after buying an additional 277 shares during the last quarter. KBC Group NV raised its holdings in shares of Fox Factory by 36.5% in the third 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 period. Park Avenue Securities LLC increased its stake in Fox Factory by 7.3% in the 3rd quarter. Park Avenue Securities LLC now owns 6,023 shares of the company's stock worth $250,000 after buying an additional 410 shares during the period. FORA Capital LLC lifted its holdings in Fox Factory by 5.9% during the 3rd quarter. FORA Capital LLC now owns 9,117 shares of the company's stock valued at $378,000 after buying an additional 507 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in Fox Factory by 7.9% in the 2nd quarter. Inspire Investing LLC now owns 7,318 shares of the company's stock valued at $353,000 after buying an additional 533 shares during the period.

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.