Jefferies Financial Group Inc. Acquires New Stake in Fox Factory Holding Corp. $FOXF

Jefferies Financial Group Inc. acquired a new stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 29,300 shares of the company’s stock, valued at approximately $496,000.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Fox Factory by 82.2% during the first quarter. Royal Bank of Canada now owns 12,898 shares of the company’s stock valued at $301,000 after acquiring an additional 5,820 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Fox Factory by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,142 shares of the company’s stock worth $587,000 after purchasing an additional 1,103 shares in the last quarter. Millennium Management LLC grew its position in Fox Factory by 18.7% during the 1st quarter. Millennium Management LLC now owns 464,493 shares of the company’s stock valued at $10,841,000 after purchasing an additional 73,090 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Fox Factory during the 1st quarter valued at about $263,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Fox Factory by 20.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,431 shares of the company’s stock valued at $2,041,000 after purchasing an additional 15,021 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Fox Factory Stock Down 0.6%

Shares of Fox Factory stock opened at $20.43 on Tuesday. The company has a market cap of $858.67 million, a price-to-earnings ratio of -2.86, a price-to-earnings-growth ratio of 0.59 and a beta of 1.35. The company’s 50 day moving average is $19.11 and its 200 day moving average is $18.02. Fox Factory Holding Corp. has a twelve month low of $13.08 and a twelve month high of $29.97. The company has a quick ratio of 1.55, a current ratio of 3.10 and a debt-to-equity ratio of 0.96.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, August 6th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The business had revenue of $358.12 million during 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 firm’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Research analysts anticipate that Fox Factory Holding Corp. will post 1.55 EPS for the current year.

Fox Factory 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.