Wasatch Advisors LP Cuts Stock Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Wasatch Advisors LP trimmed its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,460,074 shares of the company’s stock after selling 200,170 shares during the period. Wasatch Advisors LP owned approximately 0.06% of Fox Factory worth $128,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in Fox Factory by 20.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 91,001 shares of the company’s stock valued at $9,016,000 after buying an additional 15,251 shares in the last quarter. Mariner LLC increased its holdings in shares of Fox Factory by 5.1% during the third quarter. Mariner LLC now owns 4,491 shares of the company’s stock valued at $445,000 after acquiring an additional 216 shares in the last quarter. Synovus Financial Corp raised its position in shares of Fox Factory by 10.5% in the 3rd quarter. Synovus Financial Corp now owns 3,640 shares of the company’s stock valued at $361,000 after purchasing an additional 345 shares during the last quarter. Advantage Alpha Capital Partners LP boosted its stake in Fox Factory by 130.9% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 48,063 shares of the company’s stock worth $4,762,000 after purchasing an additional 27,246 shares in the last quarter. Finally, Sei Investments Co. grew its position in Fox Factory by 5.6% during the 3rd quarter. Sei Investments Co. now owns 231,576 shares of the company’s stock worth $22,945,000 after purchasing an additional 12,305 shares during the last quarter.

Insider Activity at Fox Factory

In other news, insider Thomas L. Fletcher sold 2,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the sale, the insider now directly owns 11,311 shares of the company’s stock, valued at approximately $502,321.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Michael C. Dennison purchased 11,250 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $44.30 per share, with a total value of $498,375.00. Following the purchase, the chief executive officer now owns 130,266 shares of the company’s stock, valued at $5,770,783.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas L. Fletcher sold 2,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $44.41, for a total transaction of $88,820.00. Following the transaction, the insider now owns 11,311 shares of the company’s stock, valued at $502,321.51. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Fox Factory Stock Performance

Shares of FOXF traded up $1.12 during mid-day trading on Tuesday, reaching $48.60. The company had a trading volume of 319,126 shares, compared to its average volume of 628,830. The stock has a market capitalization of $2.02 billion, a P/E ratio of 27.15, a PEG ratio of 2.05 and a beta of 1.66. Fox Factory Holding Corp. has a 52-week low of $37.98 and a 52-week high of $117.68. The stock has a 50 day moving average of $45.71 and a two-hundred day moving average of $53.25. The company has a quick ratio of 1.85, a current ratio of 3.43 and a debt-to-equity ratio of 0.63.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. The business had revenue of $333.50 million for the quarter, compared to analyst estimates of $327.58 million. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The business’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. On average, analysts expect that Fox Factory Holding Corp. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Bank of America lowered their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. B. Riley cut their price objective on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Roth Mkm decreased their target price on Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, Truist Financial increased their price target on shares of Fox Factory from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.67.

Fox Factory Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.