Fox Factory (NASDAQ:FOXF) Shares Down 6.5% – Time to Sell?

Fox Factory Holding Corp. (NASDAQ:FOXF) was down 6.5% on Monday. The stock traded as low as $15.09 and last traded at $14.9920. 204,809 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 599,930 shares. The stock had previously closed at $16.04.

Wall Street Analysts Forecast Growth

FOXF has been the subject of a number of recent analyst reports. Zacks Research upgraded Fox Factory from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 31st. Stifel Nicolaus set a $25.00 price target on Fox Factory in a research report on Wednesday, September 30th. Bank of America downgraded Fox Factory from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $24.00 to $20.00 in a research note on Tuesday, June 30th. Weiss Ratings raised shares of Fox Factory from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Finally, Fox Advisors set a $20.00 price objective on shares of Fox Factory in a research report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Fox Factory Price Performance

The company’s 50-day moving average is $19.72 and its 200-day moving average is $18.36. The firm has a market cap of $622.40 million, a price-to-earnings ratio of -2.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.41. The company has a current ratio of 3.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.96.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The business had revenue of $358.12 million during the quarter, compared to the consensus estimate of $352.94 million. During the same period in the previous year, the business earned $0.40 earnings per share. The company’s revenue was down 4.5% on a year-over-year basis. Equities research analysts predict that Fox Factory Holding Corp. will post 1.60 earnings per share for the current year.

Institutional Trading of Fox Factory

Several large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in Fox Factory by 49.8% during the third quarter. Versant Capital Management Inc now owns 3,054 shares of the company’s stock valued at $56,000 after acquiring an additional 1,015 shares during the last quarter. GAMMA Investing LLC grew its holdings in Fox Factory by 62.1% during the 3rd 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 period. Illinois Municipal Retirement Fund raised its position in shares of Fox Factory by 11.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 22,500 shares of the company’s stock worth $370,000 after acquiring an additional 2,254 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Fox Factory in the 2nd quarter worth about $41,000. Finally, Quantbot Technologies LP bought a new position in shares of Fox Factory in the 2nd quarter worth about $48,000.

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.