Fox Factory (NASDAQ:FOXF) Sets New 52-Week Low – Here’s Why

Fox Factory Holding Corp. (NASDAQ:FOXF)’s share price reached a new 52-week low on Tuesday . The company traded as low as $25.42 and last traded at $25.62, with a volume of 38079 shares traded. The stock had previously closed at $25.99.

Analysts Set New Price Targets

A number of brokerages have recently commented on FOXF. Roth Mkm cut their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, December 11th. Robert W. Baird cut 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. StockNews.com upgraded Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Truist Financial lowered their price target on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.33.

Fox Factory Price Performance

The company has a market capitalization of $1.09 billion, a P/E ratio of 100.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The company’s 50-day moving average price is $29.20 and its two-hundred day moving average price is $35.46.

Institutional Investors Weigh In On Fox Factory

A number of institutional investors have recently modified their holdings of FOXF. Disciplined Growth Investors Inc. MN bought a new position in Fox Factory in the 3rd quarter valued at about $5,743,000. Thrivent Financial for Lutherans boosted its holdings in Fox Factory by 89.0% in the third quarter. Thrivent Financial for Lutherans now owns 68,532 shares of the company’s stock valued at $2,844,000 after acquiring an additional 32,263 shares during the last quarter. Caprock Group LLC grew its holdings in Fox Factory by 133.7% during the 4th quarter. Caprock Group LLC now owns 22,396 shares of the company’s stock worth $678,000 after acquiring an additional 12,813 shares during the period. JPMorgan Chase & Co. increased its stake in Fox Factory by 271.6% in the third quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company’s stock valued at $7,921,000 after purchasing an additional 139,512 shares in the last quarter. Finally, Barclays PLC grew its position in Fox Factory by 474.7% in the 3rd quarter. Barclays PLC now owns 122,806 shares of the company’s stock valued at $5,097,000 after purchasing an additional 101,437 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.