Fox Factory Holding Corp. $FOXF Stock Position Reduced by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP decreased its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 18.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 665,680 shares of the company’s stock after selling 152,677 shares during the quarter. Divisadero Street Capital Management LP owned 1.59% of Fox Factory worth $16,169,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. ArrowMark Colorado Holdings LLC lifted its stake in Fox Factory by 72.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,239,216 shares of the company’s stock worth $30,101,000 after purchasing an additional 522,391 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Fox Factory by 9.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,075,521 shares of the company’s stock valued at $26,125,000 after purchasing an additional 96,178 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 worth $26,967,000 after purchasing an additional 24,156 shares during the period. Nantahala Capital Management LLC lifted its position in shares of Fox Factory by 15.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 728,648 shares of the company’s stock worth $18,901,000 after buying an additional 100,000 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Fox Factory by 3.3% in the 2nd quarter. Bank of America Corp DE now owns 486,290 shares of the company’s stock worth $12,614,000 after buying an additional 15,417 shares during the last quarter.

Fox Factory Stock Down 2.1%

FOXF stock opened at $15.50 on Monday. The stock has a market cap of $647.90 million, a PE ratio of -1.19 and a beta of 1.50. The firm’s 50-day simple moving average is $18.48 and its 200 day simple moving average is $20.15. Fox Factory Holding Corp. has a fifty-two week low of $13.08 and a fifty-two week high of $31.18. 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 (NASDAQ:FOXF) last posted its earnings results on Thursday, February 26th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The firm had revenue of $361.07 million during the quarter, compared to analyst estimates of $353.88 million. During the same period in the previous year, the business posted $0.31 EPS. Fox Factory’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts predict that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd. Zacks Research upgraded Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. CJS Securities raised Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Roth Mkm dropped their price target on Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.60.

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.