Fox Factory (NASDAQ:FOXF) Shares Pass Below 200-Day Moving Average - Time to Sell?

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.66 and traded as low as $24.43. Fox Factory shares last traded at $24.89, with a volume of 501,468 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Fox Factory from $45.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus dropped their price target on shares of Fox Factory from $40.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Truist Financial raised their price target on shares of Fox Factory from $28.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Robert W. Baird dropped their price target on shares of Fox Factory from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $36.43.

Fox Factory Stock Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.36 and a current ratio of 3.18. The stock has a market cap of $1.04 billion, a PE ratio of -4.16 and a beta of 1.52. The company's 50 day simple moving average is $23.80 and its 200 day simple moving average is $25.66.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The firm 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 company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Fox Factory

Several large investors have recently modified their holdings of the stock. Inspire Investing LLC increased its stake in shares of Fox Factory by 10.6% during the 1st quarter. Inspire Investing LLC now owns 14,556 shares of the company's stock worth $340,000 after purchasing an additional 1,393 shares during the last quarter. Advisors Capital Management LLC increased its stake in shares of Fox Factory by 86.1% during the 1st quarter. Advisors Capital Management LLC now owns 110,752 shares of the company's stock worth $2,585,000 after purchasing an additional 51,243 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Fox Factory by 123.8% during the 1st quarter. Jane Street Group LLC now owns 79,445 shares of the company's stock worth $1,854,000 after purchasing an additional 43,952 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Fox Factory by 20.7% during the 1st 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 purchasing an additional 15,021 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Fox Factory during the 1st quarter worth approximately $263,000.

Fox Factory Company Profile

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.

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