Fox Factory (NASDAQ:FOXF) Trading Down 7.3% – Should You Sell?

Shares of Fox Factory Holding Corp. (NASDAQ:FOXF) dropped 7.3% during trading on Friday . The company traded as low as $24.02 and last traded at $23.86. Approximately 142,627 shares were traded during trading, a decline of 78% from the average daily volume of 637,248 shares. The stock had previously closed at $25.74.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Fox Factory from $38.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Truist Financial lowered their price objective on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group reduced their target price on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 28th. StockNews.com upgraded Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Fox Factory presently has an average rating of “Hold” and a consensus target price of $39.14.

Fox Factory Trading Down 5.7 %

The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $26.50 and a 200-day moving average of $31.82. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 93.40, a PEG ratio of 1.45 and a beta of 1.65.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $352.84 million during the quarter, compared to analyst estimates of $321.31 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. As a group, research analysts forecast that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Fox Factory

Several institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC bought a new position in Fox Factory during the third quarter valued at about $541,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Fox Factory by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 549,635 shares of the company’s stock valued at $22,810,000 after acquiring an additional 37,325 shares during the last quarter. FMR LLC raised its stake in shares of Fox Factory by 65.8% in the 3rd quarter. FMR LLC now owns 7,674 shares of the company’s stock valued at $318,000 after acquiring an additional 3,045 shares in the last quarter. FORA Capital LLC lifted its holdings in Fox Factory by 5.9% in the 3rd quarter. FORA Capital LLC now owns 9,117 shares of the company’s stock worth $378,000 after purchasing an additional 507 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fox Factory by 7.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,972 shares of the company’s stock worth $455,000 after purchasing an additional 785 shares during the period.

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.