Jefferies Financial Group Inc. Makes New Investment in Fox Factory Holding Corp. $FOXF

Jefferies Financial Group Inc. purchased a new stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,300 shares of the company’s stock, valued at approximately $496,000. Jefferies Financial Group Inc. owned 0.07% of Fox Factory as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Engineers Gate Manager LP increased its stake in Fox Factory by 1.1% in the 4th quarter. Engineers Gate Manager LP now owns 73,895 shares of the company’s stock worth $1,264,000 after purchasing an additional 770 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Fox Factory by 12.3% in the second quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock worth $203,000 after purchasing an additional 858 shares during the last quarter. Resona Asset Management Co. Ltd. increased its holdings in Fox Factory by 33.3% during the 4th quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock valued at $73,000 after purchasing an additional 1,035 shares during the period. Creative Planning increased its holdings in Fox Factory by 11.6% during the 3rd quarter. Creative Planning now owns 9,971 shares of the company’s stock valued at $242,000 after purchasing an additional 1,040 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Fox Factory by 108.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after purchasing an additional 1,079 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on FOXF shares. Bank of America cut Fox Factory from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $24.00 to $20.00 in a report on Tuesday, June 30th. Fox Advisors set a $20.00 price target on Fox Factory in a research note on Tuesday, June 30th. Zacks Research upgraded shares of Fox Factory from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 3rd. Roth Capital reissued a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Fox Factory in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.00.

Fox Factory Stock Performance

Shares of Fox Factory stock opened at $20.43 on Tuesday. Fox Factory Holding Corp. has a 12 month low of $13.08 and a 12 month high of $29.97. The firm has a market capitalization of $858.67 million, a P/E ratio of -2.86, a P/E/G ratio of 0.59 and a beta of 1.35. The company has a current ratio of 3.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $19.11 and a two-hundred day simple moving average of $18.02.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, August 6th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The firm had revenue of $358.12 million for the quarter, compared to the consensus estimate of $352.94 million. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. On average, equities analysts forecast that Fox Factory Holding Corp. will post 1.55 earnings per share for the current fiscal year.

About Fox Factory

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.