Fox Factory Holding Oversold: RSI Alert Issued
June 1, 2023
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Fox Factory Holding ($NASDAQ:FOXF) (FOX) is a leading manufacturer of suspension parts and accessories for the powersports, mountain bike, and outdoor industries. Recently, the Relative Strength Index (RSI) indicator has signaled that Fox Factory Holding is oversold. The RSI is a technical indicator that measures the magnitude of recent price movements to determine overbought and oversold conditions. Fox Factory Holding’s stock has been steadily declining in recent months, leading to its current state of being oversold. The company has been trying to regain investors’ confidence by releasing better than expected earnings reports.
However, the stock has been unable to recover from its downward momentum. It is possible that the company may rebound if the current market conditions improve. For now, investors should be aware that Fox Factory Holding is oversold and consider their investment decisions accordingly.
Market Price
Fox Factory Holding (FOX) has seen its stock drop 0.9% on Wednesday, opening at $89.5 and closing at $88.9, a 0.9% fall from the previous closing price of 89.8. This recent performance has led to a Relative Strength Index (RSI) alert being issued, indicating that FOX stock may have become oversold. The RSI is a technical indicator that compares the magnitude of recent gains and losses over a given period to measure momentum, and is used to help identify overbought and oversold stocks. Investors should thus watch out for potential buying opportunities in FOX, as the stock may be poised for a reversal and potential upside. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FOXF. More…
| Total Revenues | Net Income | Net Margin |
| 1.62k | 199 | 12.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FOXF. More…
| Operations | Investing | Financing |
| 263.38 | -180.88 | -59.93 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FOXF. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.82k | 660.18 | 27.52 |
Key Ratios Snapshot
Some of the financial key ratios for FOXF are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 28.0% | 34.1% | 15.1% |
| FCF Margin | ROE | ROA |
| 13.3% | 13.4% | 8.4% |
Analysis
At GoodWhale, we recently conducted an analysis of FOX FACTORY HOLDING’s wellbeing. Based on our Risk Rating, we found the company to be a medium risk investment in terms of financial and business aspects. We detected two risk warnings in the balance sheet and cashflow statement, which can be accessed once you register with us. We recommend that you take a closer look at these factors when considering investing in this company. Additionally, we suggest reaching out to FOX FACTORY HOLDING to ask questions and better understand their position and prospects. More…
Peers
The Company’s products are sold to original equipment manufacturers and aftermarket customers. Fox Factory Holding Corp was founded in 1974 and is headquartered in Scotts Valley, California. Hankook & Co is a South Korean company that manufactures and sells tires. The company was founded in 1941 as the Chosun Tire Company and changed its name to Hankook Tire in 1968. Hankook Tire has manufacturing plants in South Korea, China, Hungary, and Indonesia. The company sells its tires under the Hankook, Kumho, and Nexen brands. Federal Corp is a Taiwanese company that manufactures and sells tires. Federal Corp was founded in 1954 and is headquartered in Taipei, Taiwan. The company has manufacturing plants in Taiwan, China, and Thailand. Federal Corp sells its tires under the Federal, Achilles, and Atturo brands. PT Multistrada Arah Sarana Tbk is an Indonesian company that manufactures and sells tires. PT Multistrada Arah Sarana Tbk was founded in 1976 and is headquartered in Jakarta, Indonesia. The company has manufacturing plants in Indonesia and Vietnam. PT Multistrada Arah Sarana Tbk sells its tires under the Multistrada, Tristar, and Maxxis brands.
– Hankook & Co ($KOSE:000240)
Hankook & Co is a South Korean conglomerate with a market cap of 1.17T as of 2022. The company has a Return on Equity of 5.05%. Hankook & Co is involved in a variety of businesses including tires, chemicals, and auto parts. The company has a strong presence in South Korea and is a major player in the global market.
– Federal Corp ($TWSE:2102)
Federal Corp is a publicly traded company with a market capitalization of 8.5 billion as of 2022. The company has a negative return on equity of 13.91%. Federal Corp is engaged in the business of manufacturing and selling automotive parts and systems.
– PT Multistrada Arah Sarana Tbk ($IDX:MASA)
PT Multistrada Arah Sarana Tbk has a market cap of 18.64T as of 2022, a Return on Equity of 19.35%. The company is engaged in the manufacturing of passenger car radial tyres and motorcycle tyres in Indonesia. It also exports its products to over 60 countries worldwide.
Summary
Fox Factory Holding Corp. (FOX) has been trending downward recently, and is currently oversold according to the Relative Strength Index (RSI). Fundamental analysis of the company reveals a healthy balance sheet with no debt and a price to earnings ratio that is slightly higher than the industry average. FOX is also performing well in terms of retained earnings and dividend payments. Overall, FOX is a financially sound company and could be a good buy for investors if its stock price continues to decline or reverse its downward trend.
