Teacher Retirement System of Texas lowered its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF – Free Report) by 27.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,703 shares of the company’s stock after selling 2,529 shares during the period. Teacher Retirement System of Texas’ holdings in Fox Factory were worth $727,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in FOXF. Wasatch Advisors LP raised its holdings in shares of Fox Factory by 50.4% during the first quarter. Wasatch Advisors LP now owns 2,581,869 shares of the company’s stock valued at $313,361,000 after purchasing an additional 865,399 shares during the period. Norges Bank acquired a new stake in shares of Fox Factory in the 4th quarter worth about $34,350,000. Capital World Investors raised its holdings in shares of Fox Factory by 431.9% in the 1st quarter. Capital World Investors now owns 329,000 shares of the company’s stock worth $32,226,000 after acquiring an additional 267,147 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Fox Factory by 483.4% in the 4th quarter. Victory Capital Management Inc. now owns 265,453 shares of the company’s stock worth $24,217,000 after acquiring an additional 219,953 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Fox Factory in the 1st quarter worth about $17,905,000.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Fox Factory in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Bank of America upped their target price on shares of Fox Factory from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. B. Riley restated a “buy” rating and issued a $125.00 target price on shares of Fox Factory in a report on Tuesday, September 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $130.00 price objective on shares of Fox Factory in a research note on Monday, September 18th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.00.
Insider Activity
In other news, CEO Michael C. Dennison sold 9,129 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $114.00, for a total transaction of $1,040,706.00. Following the completion of the transaction, the chief executive officer now directly owns 70,795 shares of the company’s stock, valued at approximately $8,070,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul Stecher sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $107.00, for a total value of $246,100.00. Following the completion of the transaction, the insider now directly owns 16,360 shares of the company’s stock, valued at approximately $1,750,520. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael C. Dennison sold 9,129 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $114.00, for a total transaction of $1,040,706.00. Following the completion of the transaction, the chief executive officer now directly owns 70,795 shares of the company’s stock, valued at $8,070,630. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
Fox Factory Trading Down 1.3 %
NASDAQ:FOXF opened at $94.34 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.37 and a current ratio of 4.08. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 1.84 and a beta of 1.83. Fox Factory Holding Corp. has a 52 week low of $73.05 and a 52 week high of $127.54. The firm has a 50-day moving average price of $104.00 and a two-hundred day moving average price of $104.69.
Fox Factory (NASDAQ:FOXF – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.07. Fox Factory had a net margin of 11.45% and a return on equity of 19.41%. The firm had revenue of $400.72 million during the quarter, compared to the consensus estimate of $401.67 million. During the same period in the prior year, the firm earned $1.38 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Fox Factory Holding Corp. will post 4.95 earnings per share for the current fiscal year.
About Fox Factory
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks.
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