Fox Factory (NASDAQ:FOXF) Shares Down 5.7% - What's Next?

Key Points

• Fox Factory's stock prices fell by 5.7%, trading at $27.36, which is a significant decrease from its previous close of $29.01, with a trading volume decline of 62% compared to the average.
• Analysts have set new price targets for Fox Factory, with Truist Financial raising their target to $34.00, indicating a "buy" rating, while three other analysts have rated the stock a "buy" and four have assigned a "hold" rating, leading to an average target of $34.86.
• In its latest earnings report, Fox Factory missed consensus estimates with $0.40 EPS, but reported a revenue of $374.86 million, which is 7.6% higher year-over-year.

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report)'s share price was down 5.7% during trading on Wednesday . The stock traded as low as $27.42 and last traded at $27.36. Approximately 230,447 shares traded hands during trading, a decline of 62% from the average daily volume of 598,721 shares. The stock had previously closed at $29.01.

Analysts Set New Price Targets

FOXF has been the subject of a number of recent analyst reports. B. Riley restated a "neutral" rating and issued a $32.00 price objective (up previously from $26.00) on shares of Fox Factory in a research report on Friday, August 8th. Stifel Nicolaus upped their price objective on shares of Fox Factory from $34.00 to $36.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.50.

Fox Factory Stock Performance

The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -4.48 and a beta of 1.48. The company has a current ratio of 3.03, a quick ratio of 1.36 and a debt-to-equity ratio of 0.70. The stock's 50 day moving average is $28.78 and its two-hundred day moving average is $25.70.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $374.86 million during the quarter, compared to analyst estimates of $349.01 million. Fox Factory had a positive return on equity of 5.03% and a negative net margin of 17.50%.Fox Factory's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. Fox Factory has set its FY 2025 guidance at 1.600-2.000 EPS. Q3 2025 guidance at 0.450-0.650 EPS. Analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fox Factory

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of Fox Factory by 76.2% during the 1st quarter. CWM LLC now owns 1,341 shares of the company's stock worth $31,000 after buying an additional 580 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Fox Factory by 142.8% during the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company's stock worth $32,000 after buying an additional 807 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Fox Factory by 254.1% during the 1st quarter. GAMMA Investing LLC now owns 1,696 shares of the company's stock worth $40,000 after buying an additional 1,217 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Fox Factory by 113.8% during the 1st quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company's stock worth $46,000 after buying an additional 1,038 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Fox Factory by 474.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,993 shares of the company's stock worth $47,000 after buying an additional 1,646 shares during the last quarter.

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.