Fox Factory (NASDAQ:FOXF) Stock Price Passes Below 200 Day Moving Average - Here's Why

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report)'s share price 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 trading hands.

Wall Street Analyst Weigh In

Several brokerages have commented on FOXF. 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 note on Thursday, April 10th. Truist Financial raised their target price on shares of Fox Factory from $28.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Robert W. Baird lowered their target price 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. Finally, Jefferies Financial Group lowered their target price 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. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Fox Factory has an average rating of "Hold" and an average price target of $36.43.

Fox Factory Trading Up 2.4%

The company has a debt-to-equity ratio of 0.73, a current ratio of 3.18 and a quick ratio of 1.36. The firm has a market capitalization of $1.08 billion, a PE ratio of -4.31 and a beta of 1.52. The business's 50-day moving average price is $24.14 and its 200-day moving average price is $25.52.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. Fox Factory had a negative net margin of 17.64% and a positive return on equity of 4.70%. The firm had revenue of $355.03 million for the quarter, compared to analyst estimates of $330.71 million. During the same period last year, the firm posted $0.29 EPS. Fox Factory's quarterly revenue was up 6.5% on a year-over-year basis. As a group, 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 made changes to their positions in the stock. Inspire Investing LLC grew 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 period. Advisors Capital Management LLC grew 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 period. Jane Street Group LLC grew 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 buying an additional 15,021 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Fox Factory during the 1st quarter worth $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.