Fox Factory (NASDAQ:FOXF) Shares Cross Below 200 Day Moving Average - What's Next?

Key Points

• Stock technical: Fox Factory's shares crossed below their 200‑day moving average of $18.77, trading as low as $16.40 and last at $16.92 on volume of 374,178 shares.
• Analyst view: Ratings are mixed but the consensus is a "Hold" with an average price target of $29.50, while individual firms range from Strong Buy to Sell and have recently adjusted targets and ratings.
• Fundamentals: The company beat the quarter's EPS and revenue estimates ($0.20 vs. $0.14; $361.07M vs. $353.88M) but reported a negative net margin (-37.11%) and a trailing P/E of -1.30, with analysts forecasting 1.31 EPS for the year.

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.77 and traded as low as $16.40. Fox Factory shares last traded at $16.92, with a volume of 374,178 shares traded.

Wall Street Analysts Forecast Growth

FOXF has been the subject of several recent research reports. Zacks Research upgraded Fox Factory from a "strong sell" rating to a "hold" rating in a report on Thursday, March 5th. Roth Mkm cut their price objective on Fox Factory from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, January 6th. CJS Securities raised Fox Factory to a "strong-buy" rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Fox Factory in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $29.50.

Fox Factory Trading Up 1.0%

The company has a fifty day moving average of $17.65 and a two-hundred day moving average of $18.77. The company has a current ratio of 2.86, a quick ratio of 1.37 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $709.51 million, a price-to-earnings ratio of -1.30 and a beta of 1.46.

Fox Factory (NASDAQ:FOXF - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The company had revenue of $361.07 million during the quarter, compared to analyst estimates of $353.88 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company's quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts expect that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FOXF. Royal Bank of Canada lifted its holdings in shares of Fox Factory by 82.2% during the first quarter. Royal Bank of Canada now owns 12,898 shares of the company's stock worth $301,000 after buying an additional 5,820 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Fox Factory by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,142 shares of the company's stock worth $587,000 after buying an additional 1,103 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Fox Factory by 18.7% during the first quarter. Millennium Management LLC now owns 464,493 shares of the company's stock worth $10,841,000 after buying an additional 73,090 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fox Factory during the first quarter worth approximately $263,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Fox Factory by 20.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,431 shares of the company's stock worth $2,041,000 after buying an additional 15,021 shares during the last quarter.

About Fox Factory

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company's FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.

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