Amalgamated Bank Acquires 518 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Posted by Defense World Staff on Jun 4th, 2023

Amalgamated Bank boosted its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF – Get Rating) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,912 shares of the company’s stock after buying an additional 518 shares during the quarter. Amalgamated Bank owned approximately 0.07% of Fox Factory worth $2,729,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. California Public Employees Retirement System raised its holdings in Fox Factory by 1.0% in the 4th quarter. California Public Employees Retirement System now owns 95,812 shares of the company’s stock valued at $8,741,000 after buying an additional 980 shares during the last quarter. FORA Capital LLC bought a new position in Fox Factory in the 3rd quarter valued at approximately $272,000. Vestmark Advisory Solutions Inc. increased its position in Fox Factory by 13.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 6,954 shares of the company’s stock valued at $634,000 after purchasing an additional 817 shares during the period. Quantamental Technologies LLC increased its position in Fox Factory by 23.2% during the 3rd quarter. Quantamental Technologies LLC now owns 4,820 shares of the company’s stock valued at $381,000 after purchasing an additional 909 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Fox Factory by 1.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 205,568 shares of the company’s stock valued at $18,754,000 after purchasing an additional 2,341 shares during the period. Institutional investors own 98.71% of the company’s stock.

Insider Activity at Fox Factory

In related news, insider Thomas L. Fletcher sold 658 shares of Fox Factory stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $88.50, for a total value of $58,233.00. Following the completion of the sale, the insider now owns 6,142 shares of the company’s stock, valued at approximately $543,567. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

Fox Factory Stock Performance

Shares of FOXF stock opened at $92.26 on Friday. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.64 and a beta of 1.83. Fox Factory Holding Corp. has a 52 week low of $69.28 and a 52 week high of $127.54. The company has a quick ratio of 1.98, a current ratio of 3.48 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $105.69 and a 200-day moving average of $107.98.

Fox Factory (NASDAQ:FOXF – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.18 by $0.02. Fox Factory had a net margin of 12.25% and a return on equity of 20.99%. The company had revenue of $399.90 million during the quarter, compared to the consensus estimate of $393.85 million. During the same quarter last year, the firm posted $1.32 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Fox Factory Holding Corp. will post 5.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FOXF shares. Truist Financial increased their target price on shares of Fox Factory from $115.00 to $125.00 in a research report on Friday, February 24th. Roth Mkm started coverage on shares of Fox Factory in a research report on Wednesday, April 5th. They set a “neutral” rating and a $126.00 target price for the company. Roth Capital reissued a “neutral” rating on shares of Fox Factory in a research report on Tuesday, April 4th. TheStreet downgraded shares of Fox Factory from a “b” rating to a “c+” rating in a research report on Thursday, May 18th. Finally, StockNews.com assumed coverage on shares of Fox Factory in a research report on Thursday, May 18th. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $127.80.

About Fox Factory

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Fox Factory Holding Corp. engages in designing, engineering, manufacturing and marketing performance ride dynamics products. The firm offers bicycles, side-by-sides and on-road vehicles with off-road capabilities, off-road vehicles and trucks, all – terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles.