Fox Factory (NASDAQ:FOXF) Shares Down 6.5% – What’s Next?

Fox Factory Holding Corp. (NASDAQ:FOXF) fell 6.5% during trading on Monday. The stock traded as low as $15.09 and last traded at $14.9920. 204,809 shares changed hands during trading, a decline of 66% from the average daily volume of 599,930 shares. The stock had previously closed at $16.04.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings raised Fox Factory from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th. Zacks Research upgraded Fox Factory from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Fox Advisors set a $20.00 price objective on shares of Fox Factory in a research report on Tuesday, June 30th. Roth Capital reiterated a “neutral” rating and issued a $17.00 price objective on shares of Fox Factory in a research note on Monday. Finally, Stifel Nicolaus set a $25.00 price objective on shares of Fox Factory in a research note on Wednesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Fox Factory Stock Down 7.7%

The firm’s fifty day moving average price is $19.72 and its two-hundred day moving average price is $18.36. The stock has a market cap of $622.40 million, a price-to-earnings ratio of -2.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.41. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.10 and a quick ratio of 1.55.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The company had revenue of $358.12 million for the quarter, compared to analysts’ expectations of $352.94 million. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The business’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Sell-side analysts forecast that Fox Factory Holding Corp. will post 1.60 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOXF. GAMMA Investing LLC grew its stake in Fox Factory by 62.1% in the third quarter. GAMMA Investing LLC now owns 3,802 shares of the company’s stock valued at $70,000 after acquiring an additional 1,456 shares during the period. Byrne Asset Management LLC bought a new stake in shares of Fox Factory during the third quarter valued at approximately $156,000. Versant Capital Management Inc raised its position in shares of Fox Factory by 49.8% during the third quarter. Versant Capital Management Inc now owns 3,054 shares of the company’s stock worth $56,000 after purchasing an additional 1,015 shares during the period. Corient Private Wealth LP raised its position in shares of Fox Factory by 11.1% during the second quarter. Corient Private Wealth LP now owns 119,632 shares of the company’s stock worth $2,027,000 after purchasing an additional 11,921 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Fox Factory by 6.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,487 shares of the company’s stock worth $1,161,000 after purchasing an additional 4,383 shares during the period.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures and markets performance products for the cycling, powersports and outdoor recreation markets. The company serves consumers, professional athletes and original equipment manufacturers through a portfolio of specialized brands and technologies.

Its products include bicycle suspension systems, forks, shocks, dropper posts, drivetrain and component products, protective equipment, apparel and related accessories. In powersports, Fox Factory offers suspension systems and performance components for motorcycles, off-road vehicles, snowmobiles and other recreational vehicles.

Fox Factory’s principal brands have included FOX, FOX Racing, Marzocchi, Race Face, Easton Cycling and Ride Concepts.