Fox Factory (NASDAQ:FOXF) Stock Price Down 4.3%

Fox Factory Holding Corp. (NASDAQ:FOXF) shares traded down 4.3% during mid-day trading on Friday . The stock traded as low as $39.70 and last traded at $39.86. 113,117 shares traded hands during trading, a decline of 82% from the average session volume of 611,980 shares. The stock had previously closed at $41.65.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FOXF. B. Riley cut their price objective on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird reduced their price objective on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Truist Financial decreased their price objective on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Stifel Nicolaus dropped their target price on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Finally, 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 report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Fox Factory has an average rating of “Hold” and a consensus price target of $47.00.

Fox Factory Stock Performance

The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $46.81 and its 200-day moving average price is $48.97. The company has a market cap of $1.67 billion, a P/E ratio of 22.43, a P/E/G ratio of 2.10 and a beta of 1.66.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. Fox Factory had a return on equity of 7.62% and a net margin of 3.07%. The firm had revenue of $348.49 million during the quarter, compared to analysts’ expectations of $346.22 million. During the same quarter in the prior year, the firm posted $1.21 EPS. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, research analysts forecast that Fox Factory Holding Corp. will post 2.4 EPS for the current fiscal year.

Insider Activity at Fox Factory

In related news, CEO Michael C. Dennison acquired 4,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $41.44 per share, with a total value of $198,912.00. Following the completion of the acquisition, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael C. Dennison bought 4,800 shares of Fox Factory stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the purchase, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas L. Fletcher sold 2,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $44.41, for a total transaction of $88,820.00. Following the sale, the insider now owns 11,311 shares of the company’s stock, valued at approximately $502,321.51. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fox Factory

Large investors have recently bought and sold shares of the business. Pacer Advisors Inc. grew its holdings in shares of Fox Factory by 25,005.1% during the second quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after purchasing an additional 1,578,822 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Fox Factory in the 2nd quarter valued at about $53,294,000. Norges Bank bought a new position in shares of Fox Factory in the fourth quarter worth about $31,429,000. Norden Group LLC lifted its position in shares of Fox Factory by 3,378.1% during the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock worth $14,914,000 after purchasing an additional 278,185 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Fox Factory by 5.4% during the first 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 last quarter.

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.