Fox Factory (NASDAQ:FOXF) Shares Down 4.9% – Should You Sell?

Fox Factory Holding Corp. (NASDAQ:FOXF) dropped 4.9% during trading on Tuesday . The company traded as low as $31.50 and last traded at $31.76. Approximately 48,470 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 588,162 shares. The stock had previously closed at $33.39.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FOXF. Roth Mkm decreased their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. B. Riley lowered their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Robert W. Baird lowered their target price on 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 lowered 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. Finally, Bank of America reduced their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.50.

Fox Factory Stock Performance

The stock has a market capitalization of $1.31 billion, a P/E ratio of 121.31, a PEG ratio of 2.64 and a beta of 1.65. The company has a 50-day moving average price of $37.67 and a two-hundred day moving average price of $42.35. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62.

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

Institutional Trading of Fox Factory

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Fox Factory by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares during the period. State Street Corp grew its stake in Fox Factory by 0.4% during the third quarter. State Street Corp now owns 1,596,222 shares of the company’s stock worth $66,243,000 after buying an additional 6,308 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Fox Factory by 25,005.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after buying an additional 1,578,822 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Fox Factory in the 2nd quarter valued at $53,294,000. Finally, Geode Capital Management LLC raised its stake in shares of Fox Factory by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,002,109 shares of the company’s stock worth $41,595,000 after purchasing an additional 8,474 shares in the last quarter.

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.