Mutual Advisors LLC Takes Position in Fox Factory Holding Corp. $FOXF

Mutual Advisors LLC purchased a new position in Fox Factory Holding Corp. (NASDAQ:FOXF) during the 4th quarter, HoldingsChannel reports. The fund purchased 57,497 shares of the company’s stock, valued at approximately $984,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. purchased a new position in shares of Fox Factory in the third quarter worth about $25,000. First Horizon Corp purchased a new position in shares of Fox Factory in the third quarter worth about $25,000. Farther Finance Advisors LLC lifted its stake in shares of Fox Factory by 108.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock worth $36,000 after buying an additional 1,079 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Fox Factory by 23.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,365 shares of the company’s stock worth $179,000 after buying an additional 1,415 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new position in shares of Fox Factory in the second quarter worth about $217,000.

Fox Factory Price Performance

Shares of FOXF opened at $16.84 on Tuesday. Fox Factory Holding Corp. has a 1-year low of $13.08 and a 1-year high of $31.18. The stock has a market cap of $706.10 million, a PE ratio of -1.29 and a beta of 1.37. The firm has a 50-day simple moving average of $17.10 and a two-hundred day simple moving average of $17.94. 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 (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.20 earnings per share 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 business had revenue of $361.07 million during the quarter, compared to analysts’ expectations of $353.88 million. During the same period last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts forecast that Fox Factory Holding Corp. will post 1.44 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FOXF shares. Weiss Ratings reissued a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. Zacks Research raised Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Stifel Nicolaus set a $24.00 price objective on Fox Factory in a research note on Thursday, April 16th. Finally, Roth Mkm lowered their price objective on 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 investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Fox Factory has a consensus rating of “Hold” and an average price target of $27.25.

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.