Quantbot Technologies LP Sells 40,634 Shares of Fox Factory Holding Corp. $FOXF

Quantbot Technologies LP cut its stake in Fox Factory Holding Corp. (NASDAQ:FOXF) by 76.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,471 shares of the company’s stock after selling 40,634 shares during the quarter. Quantbot Technologies LP’s holdings in Fox Factory were worth $303,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. First Horizon Corp bought a new stake in Fox Factory during the third quarter worth $25,000. Federated Hermes Inc. purchased a new position in Fox Factory during the 3rd quarter worth $25,000. PNC Financial Services Group Inc. boosted its holdings in Fox Factory by 23.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,365 shares of the company’s stock worth $179,000 after acquiring an additional 1,415 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of Fox Factory by 21.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 7,503 shares of the company’s stock worth $194,000 after acquiring an additional 1,300 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Fox Factory by 9.2% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 8,300 shares of the company’s stock worth $202,000 after acquiring an additional 700 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FOXF shares. Roth Mkm dropped their price target on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. Zacks Research raised shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. Finally, CJS Securities raised shares of Fox Factory to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fox Factory has an average rating of “Hold” and an average target price of $28.60.

Fox Factory Stock Performance

NASDAQ:FOXF opened at $16.35 on Wednesday. The company has a market capitalization of $683.45 million, a P/E ratio of -1.25 and a beta of 1.50. The business has a fifty day simple moving average of $18.57 and a two-hundred day simple moving average of $20.45. 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 Holding Corp. has a 1 year low of $13.08 and a 1 year high of $31.18.

Fox Factory (NASDAQ:FOXF) last issued its quarterly 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. The firm had revenue of $361.07 million for the quarter, compared to analysts’ expectations of $353.88 million. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

About Fox Factory

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.