William Blair Investment Management LLC Sells 329,554 Shares of Fox Factory Holding Corp. $FOXF

William Blair Investment Management LLC trimmed its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 13.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,151,661 shares of the company’s stock after selling 329,554 shares during the quarter. William Blair Investment Management LLC owned about 5.15% of Fox Factory worth $52,264,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. First Horizon Corp purchased a new stake in shares of Fox Factory during the 3rd quarter worth approximately $25,000. Federated Hermes Inc. bought a new stake in Fox Factory in the third quarter worth $25,000. CWM LLC raised its stake in Fox Factory by 91.3% during the second quarter. CWM LLC now owns 2,565 shares of the company’s stock valued at $67,000 after purchasing an additional 1,224 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Fox Factory by 115.2% during the second quarter. Nisa Investment Advisors LLC now owns 4,288 shares of the company’s stock valued at $111,000 after purchasing an additional 2,295 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position 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 valued at $179,000 after purchasing an additional 1,415 shares during the last quarter.

Analysts Set New Price Targets

FOXF has been the topic of a number of research reports. Zacks Research downgraded shares of Fox Factory from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd. Roth Mkm reduced 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. Finally, CJS Securities raised Fox Factory to a “strong-buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.60.

Fox Factory Stock Performance

Fox Factory stock opened at $16.84 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.86 and a quick ratio of 1.37. The firm has a market capitalization of $703.91 million, a P/E ratio of -1.29 and a beta of 1.50. Fox Factory Holding Corp. has a 1-year low of $13.08 and a 1-year high of $31.18. The company’s 50-day moving average is $18.63 and its 200 day moving average is $21.05.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, February 26th. The company reported $0.20 EPS for the quarter, beating 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 firm had revenue of $361.07 million for the quarter, compared to analysts’ expectations of $353.88 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts forecast that Fox Factory Holding Corp. will post 1.31 EPS for the current 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.