Teachers Retirement System of The State of Kentucky Boosts Stake in Fox Factory Holding Corp. $FOXF

Teachers Retirement System of The State of Kentucky lifted its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 3,173.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 388,666 shares of the company’s stock after purchasing an additional 376,792 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Fox Factory were worth $6,650,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of FOXF. Federated Hermes Inc. purchased a new stake in shares of Fox Factory in the third quarter valued at approximately $25,000. First Horizon Corp acquired a new position in Fox Factory during the third quarter worth $25,000. Farther Finance Advisors LLC raised its holdings in Fox Factory by 108.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock worth $36,000 after purchasing an additional 1,079 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Fox Factory by 23.8% during the third quarter. PNC Financial Services Group Inc. now owns 7,365 shares of the company’s stock worth $179,000 after purchasing an additional 1,415 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in Fox Factory by 9.2% during the third quarter. KLP Kapitalforvaltning AS now owns 8,300 shares of the company’s stock worth $202,000 after purchasing an additional 700 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FOXF shares. Roth Mkm reduced their price objective on Fox Factory from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, January 6th. Zacks Research raised Fox Factory from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fox Factory in a report on Thursday, January 22nd. Finally, Stifel Nicolaus set a $24.00 price objective on Fox Factory in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.25.

Fox Factory Stock Performance

Shares of FOXF stock opened at $17.70 on Monday. The stock has a fifty day moving average price of $17.25 and a 200 day moving average price of $18.10. The stock has a market cap of $742.16 million, a PE ratio of -1.36 and a beta of 1.46. Fox Factory Holding Corp. has a 1 year low of $13.08 and a 1 year high of $31.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.37 and a current ratio of 2.86.

Fox Factory (NASDAQ:FOXF) last released 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. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The company had revenue of $361.07 million during the quarter, compared to analysts’ expectations of $353.88 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Fox Factory Holding Corp. will post 1.44 earnings per share for the current fiscal 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.