Fox Factory (NASDAQ:FOXF) Shares Down 3%

Fox Factory Holding Corp. (NASDAQ:FOXFGet Free Report) traded down 3% during mid-day trading on Tuesday . The company traded as low as $50.15 and last traded at $50.19. 9,803 shares were traded during mid-day trading, a decline of 98% from the average session volume of 619,193 shares. The stock had previously closed at $51.72.

Analyst Upgrades and Downgrades

Several research firms have commented on FOXF. Truist Financial lifted their price target on Fox Factory from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. StockNews.com cut shares of Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Bank of America decreased their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Robert W. Baird dropped their price objective on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, Roth Mkm decreased their target price on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.67.

Read Our Latest Research Report on FOXF

Fox Factory Trading Down 6.6 %

The firm has a market cap of $2.01 billion, a PE ratio of 27.20, a P/E/G ratio of 2.17 and a beta of 1.71. The company’s fifty day moving average price is $44.86 and its two-hundred day moving average price is $53.90. The company has a quick ratio of 1.85, a current ratio of 3.43 and a debt-to-equity ratio of 0.63.

Fox Factory (NASDAQ:FOXFGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The company had revenue of $333.50 million for the quarter, compared to analyst estimates of $327.58 million. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The firm’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. As a group, sell-side analysts forecast that Fox Factory Holding Corp. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas L. Fletcher sold 2,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the transaction, the insider now directly owns 11,311 shares of the company’s stock, valued at approximately $502,321.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael C. Dennison purchased 11,250 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $44.30 per share, with a total value of $498,375.00. Following the purchase, the chief executive officer now directly owns 130,266 shares of the company’s stock, valued at $5,770,783.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas L. Fletcher sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $44.41, for a total value of $88,820.00. Following the completion of the transaction, the insider now directly owns 11,311 shares of the company’s stock, valued at $502,321.51. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FOXF. Charles Schwab Investment Management Inc. raised its position in Fox Factory by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 421,003 shares of the company’s stock worth $28,409,000 after acquiring an additional 16,542 shares during the last quarter. Partnership Wealth Management LLC purchased a new position in Fox Factory during the first quarter worth $859,000. CVA Family Office LLC acquired a new position in shares of Fox Factory in the fourth quarter worth $55,000. VELA Investment Management LLC boosted its stake in shares of Fox Factory by 56.6% during the fourth quarter. VELA Investment Management LLC now owns 18,302 shares of the company’s stock valued at $1,235,000 after acquiring an additional 6,613 shares during the last quarter. Finally, Brookstone Capital Management increased its position in Fox Factory by 29.6% during the 4th quarter. Brookstone Capital Management now owns 6,437 shares of the company’s stock worth $434,000 after purchasing an additional 1,472 shares in the last quarter.

Fox Factory Company Profile

(Get Free Report)

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.

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