William Blair Investment Management LLC Lowers Stock Holdings in Fox Factory Holding Corp. $FOXF

William Blair Investment Management LLC lessened its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 13.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,151,661 shares of the company’s stock after selling 329,554 shares during the period. William Blair Investment Management LLC owned about 0.05% of Fox Factory worth $52,264,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FOXF. WCM Investment Management LLC bought a new stake in Fox Factory during the 3rd quarter valued at $10,565,000. Geode Capital Management LLC increased its stake in shares of Fox Factory by 2.4% during the second quarter. Geode Capital Management LLC now owns 1,039,477 shares of the company’s stock valued at $26,967,000 after buying an additional 24,156 shares during the period. Advantage Alpha Capital Partners LP raised its holdings in shares of Fox Factory by 54.5% in the second quarter. Advantage Alpha Capital Partners LP now owns 134,371 shares of the company’s stock valued at $3,486,000 after acquiring an additional 47,410 shares in the last quarter. XTX Topco Ltd purchased a new stake in Fox Factory in the second quarter worth about $1,016,000. Finally, Versor Investments LP grew its holdings in Fox Factory by 202.9% during the 2nd quarter. Versor Investments LP now owns 34,223 shares of the company’s stock worth $888,000 after acquiring an additional 22,923 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Roth Mkm cut their target price on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Fox Factory from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 4th. Finally, CJS Securities upgraded Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.60.

Fox Factory Price Performance

Shares of FOXF opened at $16.84 on Monday. The company has a 50 day moving average of $18.63 and a two-hundred day moving average of $21.05. The company has a quick ratio of 1.37, a current ratio of 2.86 and a debt-to-equity ratio of 0.96. Fox Factory Holding Corp. has a twelve month low of $13.08 and a twelve month high of $31.18. The company has a market cap of $703.91 million, a price-to-earnings ratio of -1.29 and a beta of 1.50.

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

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.