Fox Factory (NASDAQ:FOXF) Shares Pass Below 200-Day Moving Average – What’s Next?

Fox Factory Holding Corp. (NASDAQ:FOXF) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.64 and traded as low as $16.52. Fox Factory shares last traded at $16.75, with a volume of 830,758 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FOXF. Weiss Ratings reissued a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. Roth Mkm decreased their price target on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 6th. CJS Securities upgraded Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Zacks Research upgraded Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Fox Factory presently has an average rating of “Hold” and a consensus target price of $28.60.

Fox Factory Trading Up 4.2%

The company has a debt-to-equity ratio of 0.96, a current ratio of 2.86 and a quick ratio of 1.37. The company’s 50 day simple moving average is $18.23 and its two-hundred day simple moving average is $19.64. The company has a market cap of $700.15 million, a PE ratio of -1.28 and a beta of 1.50.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $361.07 million for the quarter, compared to analysts’ expectations of $353.88 million. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. As a group, sell-side analysts anticipate that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Nantahala Capital Management LLC boosted its position in Fox Factory by 200.3% in the 4th quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock valued at $37,442,000 after buying an additional 1,459,652 shares during the period. State Street Corp raised its stake in shares of Fox Factory by 1.4% in the fourth quarter. State Street Corp now owns 1,620,544 shares of the company’s stock valued at $27,728,000 after acquiring an additional 21,914 shares in the last quarter. Estuary Capital Management LP raised its stake in shares of Fox Factory by 4.6% in the fourth quarter. Estuary Capital Management LP now owns 1,574,759 shares of the company’s stock valued at $26,944,000 after acquiring an additional 69,405 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in Fox Factory by 72.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,239,216 shares of the company’s stock valued at $30,101,000 after purchasing an additional 522,391 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Fox Factory by 9.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,075,521 shares of the company’s stock valued at $26,125,000 after purchasing an additional 96,178 shares during the period.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.