Renaissance Technologies LLC lowered its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF – Free Report) by 10.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 489,893 shares of the company’s stock after selling 57,800 shares during the period. Renaissance Technologies LLC owned about 1.17% of Fox Factory worth $8,064,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Western Standard LLC acquired a new position in Fox Factory during the 4th quarter valued at approximately $2,053,000. Teachers Retirement System of The State of Kentucky increased its position in Fox Factory by 3,173.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 388,666 shares of the company’s stock worth $6,650,000 after buying an additional 376,792 shares during the period. RWWM Inc. increased its position in Fox Factory by 4.7% in the first quarter. RWWM Inc. now owns 5,533,072 shares of the company’s stock worth $91,074,000 after buying an additional 247,635 shares during the period. Intech Investment Management LLC lifted its stake in Fox Factory by 158.2% in the fourth quarter. Intech Investment Management LLC now owns 60,081 shares of the company’s stock valued at $1,028,000 after buying an additional 36,811 shares during the last quarter. Finally, CenterBook Partners LP bought a new stake in Fox Factory in the fourth quarter valued at $1,819,000.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Fox Advisors set a $20.00 price target on shares of Fox Factory in a research report on Tuesday, June 30th. Bank of America downgraded shares of Fox Factory from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $24.00 to $20.00 in a research report on Tuesday, June 30th. Needham & Company LLC reissued a “buy” rating on shares of Fox Factory in a research note on Wednesday, June 3rd. Roth Capital restated a “neutral” rating and issued a $20.00 target price on shares of Fox Factory in a research report on Friday, May 8th. Finally, Stifel Nicolaus set a $24.00 price target on shares of Fox Factory in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and two have given 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 $23.20.
Fox Factory Price Performance
NASDAQ:FOXF opened at $18.73 on Tuesday. The business’s 50-day moving average price is $17.94 and its 200 day moving average price is $17.75. The firm has a market cap of $785.46 million, a P/E ratio of -2.61, a PEG ratio of 0.70 and a beta of 1.37. Fox Factory Holding Corp. has a 52-week low of $13.08 and a 52-week high of $30.75. The company has a quick ratio of 1.52, a current ratio of 2.99 and a debt-to-equity ratio of 1.00.
Fox Factory (NASDAQ:FOXF – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. The company had revenue of $368.66 million during the quarter, compared to the consensus estimate of $351.75 million. During the same period in the prior year, the company earned $0.23 EPS. Fox Factory’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts predict that Fox Factory Holding Corp. will post 1.41 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.
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