Cannon Global Investment Management LLC Makes New Investment in Fox Factory Holding Corp. (NASDAQ:FOXF)

Cannon Global Investment Management LLC bought a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,000 shares of the company’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mariner LLC grew its holdings in shares of Fox Factory by 5.1% during the third quarter. Mariner LLC now owns 4,491 shares of the company’s stock worth $445,000 after purchasing an additional 216 shares during the last quarter. CWM LLC grew its holdings in shares of Fox Factory by 54.1% during the fourth quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after purchasing an additional 219 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Fox Factory by 15.7% during the fourth quarter. Benjamin Edwards Inc. now owns 2,074 shares of the company’s stock worth $140,000 after purchasing an additional 282 shares during the last quarter. Portside Wealth Group LLC grew its holdings in shares of Fox Factory by 2.5% during the fourth quarter. Portside Wealth Group LLC now owns 13,167 shares of the company’s stock worth $889,000 after purchasing an additional 318 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Fox Factory by 1.9% during the fourth quarter. M&T Bank Corp now owns 17,646 shares of the company’s stock worth $1,191,000 after purchasing an additional 329 shares during the last quarter.

Fox Factory Trading Up 0.8 %

FOXF traded up $0.38 during trading on Friday, hitting $48.19. The company’s stock had a trading volume of 2,106,150 shares, compared to its average volume of 657,859. Fox Factory Holding Corp. has a twelve month low of $37.98 and a twelve month high of $117.68. The company has a quick ratio of 1.85, a current ratio of 3.43 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $45.41 and its 200-day moving average price is $53.63. The firm has a market capitalization of $2.01 billion, a P/E ratio of 26.92, a PEG ratio of 2.03 and a beta of 1.71.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The firm had revenue of $333.50 million for the quarter, compared to analyst estimates of $327.58 million. During the same period in the previous year, the firm earned $1.20 earnings per share. The company’s revenue was down 16.6% compared to the same quarter last year. Analysts anticipate that Fox Factory Holding Corp. will post 2.4 EPS for the current year.

Insider Buying and Selling at Fox Factory

In other news, insider Thomas L. Fletcher sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $44.41, for a total transaction of $88,820.00. Following the transaction, the insider now directly owns 11,311 shares of the company’s stock, valued at $502,321.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael C. Dennison bought 11,250 shares of the stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $44.30 per share, with a total value of $498,375.00. Following the completion of the transaction, the chief executive officer now directly owns 130,266 shares of the company’s stock, valued at $5,770,783.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas L. Fletcher sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $44.41, for a total value of $88,820.00. Following the transaction, the insider now directly owns 11,311 shares in the company, valued at $502,321.51. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FOXF shares. B. Riley reduced their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Roth Mkm reduced their target price on Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Bank of America reduced their target price on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Robert W. Baird reduced their target price on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Stifel Nicolaus reduced their target price on Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Fox Factory currently has a consensus rating of “Hold” and a consensus target price of $47.67.

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.