Fox Factory (NASDAQ:FOXF) Shares Down 3% - Should You Sell?

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report) traded down 3% on Thursday . The stock traded as low as $28.20 and last traded at $27.66. 31,691 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 603,322 shares. The stock had previously closed at $28.53.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FOXF shares. Truist Financial increased their price objective on shares of Fox Factory from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Robert W. Baird dropped their target price on shares of Fox Factory from $32.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 4th. Finally, Stifel Nicolaus dropped their target price on shares of Fox Factory from $40.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fox Factory currently has an average rating of "Hold" and an average target price of $36.43.

Fox Factory Stock Down 1.8%

The company has a quick ratio of 1.36, a current ratio of 3.18 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.17 billion, a PE ratio of -4.68 and a beta of 1.50. The business's 50 day simple moving average is $24.86 and its 200 day simple moving average is $25.39.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The business had revenue of $355.03 million during the quarter, compared to analyst estimates of $330.71 million. Fox Factory had a negative net margin of 17.64% and a positive return on equity of 4.70%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. As a group, analysts forecast that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Hedge Funds Weigh In On Fox Factory

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC grew its stake in shares of Fox Factory by 10.6% in the first quarter. Inspire Investing LLC now owns 14,556 shares of the company's stock worth $340,000 after acquiring an additional 1,393 shares during the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Fox Factory by 86.1% during the first quarter. Advisors Capital Management LLC now owns 110,752 shares of the company's stock valued at $2,585,000 after acquiring an additional 51,243 shares during the period. Jane Street Group LLC lifted its holdings in shares of Fox Factory by 123.8% during the first quarter. Jane Street Group LLC now owns 79,445 shares of the company's stock valued at $1,854,000 after acquiring an additional 43,952 shares during the period. 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 valued at $2,041,000 after acquiring an additional 15,021 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Fox Factory during the first quarter valued at $263,000.

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.