Fox Factory (NASDAQ:FOXF) Shares Down 4.9% – What’s Next?

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) fell 4.9% during trading on Tuesday . The stock traded as low as $31.50 and last traded at $31.76. 48,470 shares traded hands during trading, a decline of 92% from the average session volume of 588,162 shares. The stock had previously closed at $33.39.

Wall Street Analysts Forecast Growth

FOXF has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Truist Financial reduced their price target on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, November 1st. B. Riley decreased their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Bank of America decreased their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Roth Mkm reduced their target price on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.50.

Fox Factory Stock Performance

The company has a market capitalization of $1.31 billion, a P/E ratio of 121.31, a P/E/G ratio of 2.64 and a beta of 1.65. The company’s fifty day moving average is $37.67 and its 200 day moving average is $42.35. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). The business had revenue of $359.10 million during the quarter, compared to the consensus estimate of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. Fox Factory’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 earnings per share. As a group, equities analysts anticipate that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Institutional Trading of Fox Factory

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after purchasing an additional 261 shares during the period. GAMMA Investing LLC increased its position in Fox Factory by 86.0% during the third quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after purchasing an additional 277 shares during the last quarter. KBC Group NV raised its stake in shares of Fox Factory by 36.5% in the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock valued at $57,000 after acquiring an additional 368 shares during the period. Park Avenue Securities LLC lifted its position in shares of Fox Factory by 7.3% during the third quarter. Park Avenue Securities LLC now owns 6,023 shares of the company’s stock worth $250,000 after purchasing an additional 410 shares in the last quarter. Finally, FORA Capital LLC lifted its stake in shares of Fox Factory by 5.9% in the third quarter. FORA Capital LLC now owns 9,117 shares of the company’s stock worth $378,000 after acquiring an additional 507 shares in 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.