Vanguard Group Inc. Sells 73,978 Shares of Fox Factory Holding Corp. $FOXF

Vanguard Group Inc. lessened its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,252,013 shares of the company’s stock after selling 73,978 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Fox Factory worth $103,281,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Divisadero Street Capital Management LP bought a new position in shares of Fox Factory in the second quarter worth about $21,228,000. WCM Investment Management LLC purchased a new position in Fox Factory during the 3rd quarter worth $10,565,000. Tenzing Global Management LLC bought a new stake in Fox Factory during the 2nd quarter valued at $9,079,000. Bullseye Asset Management LLC lifted its holdings in shares of Fox Factory by 358.8% in the 2nd quarter. Bullseye Asset Management LLC now owns 192,450 shares of the company’s stock worth $4,992,000 after buying an additional 150,508 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Fox Factory by 1,319.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 160,038 shares of the company’s stock worth $4,151,000 after buying an additional 148,761 shares in the last quarter.

Fox Factory Stock Down 1.1%

Shares of FOXF stock opened at $17.85 on Thursday. The stock’s fifty day moving average price is $18.64 and its 200 day moving average price is $20.86. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.86 and a quick ratio of 1.37. Fox Factory Holding Corp. has a 1-year low of $13.08 and a 1-year high of $31.18. The company has a market cap of $746.13 million, a price-to-earnings ratio of -1.37 and a beta of 1.50.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $361.07 million for the quarter, compared to analyst estimates of $353.88 million. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, research analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FOXF shares. CJS Securities upgraded Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd. Zacks Research lowered shares of Fox Factory from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 4th. Finally, Roth Mkm dropped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.60.

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.