Argent Capital Management LLC lowered its holdings in shares of Fox Factory Holding Corp (NASDAQ:FOXF) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,200 shares of the company’s stock after selling 5,900 shares during the quarter. Argent Capital Management LLC owned 0.10% of Fox Factory worth $1,690,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. California Public Employees Retirement System lifted its position in Fox Factory by 65.5% during the third quarter. California Public Employees Retirement System now owns 25,152 shares of the company’s stock valued at $1,084,000 after purchasing an additional 9,952 shares during the last quarter. Janus Henderson Group PLC lifted its position in Fox Factory by 10.1% during the third quarter. Janus Henderson Group PLC now owns 369,941 shares of the company’s stock valued at $15,944,000 after purchasing an additional 34,052 shares during the last quarter. Polen Capital Management LLC bought a new position in Fox Factory during the third quarter valued at $225,000. Convergence Investment Partners LLC bought a new position in Fox Factory during the third quarter valued at $1,126,000. Finally, Invictus RG lifted its position in Fox Factory by 2,971.7% during the third quarter. Invictus RG now owns 5,744 shares of the company’s stock valued at $248,000 after purchasing an additional 5,557 shares during the last quarter. Institutional investors and hedge funds own 98.07% of the company’s stock.
FOXF has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Wednesday, December 6th. Stifel Nicolaus restated a “hold” rating and issued a $44.00 target price on shares of Fox Factory in a report on Sunday, December 3rd. ValuEngine lowered shares of Fox Factory from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Bank of America raised their target price on shares of Fox Factory from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, October 24th. Finally, SunTrust Banks restated a “hold” rating and issued a $36.00 target price on shares of Fox Factory in a report on Friday, October 20th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $39.29.
In related news, CFO Zvi Glasman sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $39.72, for a total value of $595,800.00. Following the transaction, the chief financial officer now owns 64,100 shares of the company’s stock, valued at approximately $2,546,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William H. Katherman sold 18,580 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $42.01, for a total transaction of $780,545.80. The disclosure for this sale can be found here. Company insiders own 21.40% of the company’s stock.
Shares of Fox Factory Holding Corp (FOXF) opened at $39.65 on Wednesday. The stock has a market cap of $1,488.54, a PE ratio of 26.09, a PEG ratio of 1.87 and a beta of 0.62. The company has a quick ratio of 1.41, a current ratio of 2.48 and a debt-to-equity ratio of 0.26. Fox Factory Holding Corp has a twelve month low of $25.25 and a twelve month high of $46.80.
Fox Factory (NASDAQ:FOXF) last released its earnings results on Wednesday, November 1st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The firm had revenue of $127.40 million during the quarter, compared to analyst estimates of $123.02 million. Fox Factory had a net margin of 10.76% and a return on equity of 28.25%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. research analysts expect that Fox Factory Holding Corp will post 1.53 earnings per share for the current fiscal year.
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About Fox Factory
Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.
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