Fox Factory (NASDAQ:FOXF) Shares Gap Down – Time to Sell?

Fox Factory Holding Corp. (NASDAQ:FOXF) shares gapped down before the market opened on Friday. The stock had previously closed at $18.50, but opened at $15.00. Fox Factory shares last traded at $15.7050, with a volume of 489,147 shares.

Analysts Set New Price Targets

Several equities analysts have commented on FOXF shares. Stifel Nicolaus set a $25.00 target price on shares of Fox Factory in a report on Wednesday, September 30th. Bank of America cut shares of Fox Factory from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $24.00 to $20.00 in a research report on Tuesday, June 30th. Zacks Research raised shares of 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 target on shares of Fox Factory in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised shares of Fox Factory from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Fox Factory has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

Fox Factory Stock Performance

The company has a 50 day moving average price of $19.82 and a 200-day moving average price of $18.36. The company has a current ratio of 3.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.96. The company has a market cap of $710.03 million, a P/E ratio of -2.36, a price-to-earnings-growth ratio of 0.48 and a beta of 1.41.

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

Institutional Inflows and Outflows

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

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.