Fox Factory (NASDAQ:FOXF) Hits New 52-Week Low After Analyst Downgrade

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $56.00 to $45.00. Stifel Nicolaus currently has a hold rating on the stock. Fox Factory traded as low as $39.90 and last traded at $39.99, with a volume of 72353 shares trading hands. The stock had previously closed at $40.64.

Other equities analysts have also recently issued reports about the stock. Bank of America cut shares of Fox Factory from a "buy" rating to a "neutral" rating and set a $55.00 price target for the company. in a research report on Friday, February 23rd. Truist Financial decreased their price objective on shares of Fox Factory from $90.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, February 23rd. Finally, StockNews.com cut shares of Fox Factory from a "hold" rating to a "sell" rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $66.00.

Institutional Investors Weigh In On Fox Factory

Several hedge funds and other institutional investors have recently bought and sold shares of FOXF. SG Americas Securities LLC bought a new stake in Fox Factory in the third quarter valued at $1,950,000. GHP Investment Advisors Inc. increased its stake in Fox Factory by 11.5% in the third quarter. GHP Investment Advisors Inc. now owns 37,934 shares of the company's stock valued at $3,493,000 after purchasing an additional 3,911 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Fox Factory by 3.3% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 6,662 shares of the company's stock valued at $660,000 after purchasing an additional 213 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Fox Factory by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 440,251 shares of the company's stock valued at $43,620,000 after buying an additional 4,607 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Fox Factory by 26.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,065 shares of the company's stock valued at $700,000 after buying an additional 1,485 shares during the last quarter.

Fox Factory Price Performance

The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 3.42 and a beta of 1.64. The business's fifty day moving average price is $50.28 and its 200-day moving average price is $62.32. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.70 and a quick ratio of 1.91.

Fox Factory (NASDAQ:FOXF - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.34). The business had revenue of $332.50 million for the quarter, compared to analyst estimates of $327.07 million. Fox Factory had a net margin of 8.25% and a return on equity of 13.86%. The firm's quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 earnings per share. On average, research analysts forecast that Fox Factory Holding Corp. will post 2.42 EPS for the current year.

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.