UBS Group AG Trims Holdings in Fox Factory Holding Corp. $FOXF

UBS Group AG cut its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 19.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,858 shares of the company’s stock after selling 55,869 shares during the quarter. UBS Group AG’s holdings in Fox Factory were worth $3,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky grew its position in Fox Factory by 3,173.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 388,666 shares of the company’s stock valued at $6,650,000 after purchasing an additional 376,792 shares during the last quarter. Farther Finance Advisors LLC grew its position in Fox Factory by 108.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after purchasing an additional 1,079 shares during the last quarter. SG Americas Securities LLC grew its position in Fox Factory by 94.5% during the 4th quarter. SG Americas Securities LLC now owns 26,423 shares of the company’s stock valued at $452,000 after purchasing an additional 12,841 shares during the last quarter. Penn Capital Management Company LLC grew its position in Fox Factory by 2.0% during the 3rd quarter. Penn Capital Management Company LLC now owns 117,197 shares of the company’s stock valued at $2,847,000 after purchasing an additional 2,317 shares during the last quarter. Finally, Caxton Associates LLP grew its position in Fox Factory by 197.7% during the 3rd quarter. Caxton Associates LLP now owns 26,096 shares of the company’s stock valued at $634,000 after purchasing an additional 17,329 shares during the last quarter.

Fox Factory Price Performance

FOXF opened at $16.28 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.52 and a current ratio of 2.99. The stock has a market capitalization of $682.78 million, a P/E ratio of -2.27, a P/E/G ratio of 0.57 and a beta of 1.37. The company’s 50-day simple moving average is $16.87 and its two-hundred day simple moving average is $17.36. Fox Factory Holding Corp. has a 52-week low of $13.08 and a 52-week high of $31.18.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.09. The business had revenue of $368.66 million for the quarter, compared to analysts’ expectations of $351.76 million. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. As a group, analysts predict that Fox Factory Holding Corp. will post 1.41 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on FOXF shares. Roth Mkm reissued a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $24.00 price objective on shares of Fox Factory in a research report on Thursday, April 16th. Finally, Zacks Research downgraded shares of Fox Factory from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.33.

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.