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

Fox Factory Holding Corp. (NASDAQ:FOXF) shares hit a new 52-week low on Monday . The company traded as low as $23.19 and last traded at $23.65, with a volume of 38218 shares changing hands. The stock had previously closed at $24.26.

Analyst Ratings Changes

FOXF has been the subject of several recent analyst reports. 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 report on Wednesday, December 11th. Truist Financial lowered their price objective on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group decreased their target price on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Robert W. Baird dropped their price target on shares of Fox Factory from $38.00 to $32.00 and set a “neutral” 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 assigned a buy rating to the company. According to MarketBeat.com, Fox Factory has an average rating of “Hold” and a consensus target price of $39.14.

Fox Factory Trading Up 0.5 %

The business’s 50-day moving average price is $26.19 and its 200-day moving average price is $31.47. The firm has a market capitalization of $978.15 million, a PE ratio of 90.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The business had revenue of $352.84 million during the quarter, compared to analysts’ expectations of $321.31 million. As a group, analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FOXF. Quarry LP acquired a new position in Fox Factory in the 4th quarter valued at $45,000. KBC Group NV increased its stake in shares of Fox Factory by 80.4% during the fourth quarter. KBC Group NV now owns 2,484 shares of the company’s stock worth $75,000 after acquiring an additional 1,107 shares during the period. TD Waterhouse Canada Inc. acquired a new position in shares of Fox Factory during the fourth quarter worth about $143,000. Magnetar Financial LLC acquired a new stake in Fox Factory in the fourth quarter valued at about $206,000. Finally, Aristides Capital LLC purchased a new stake in Fox Factory in the 4th quarter valued at approximately $206,000.

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.