Teacher Retirement System of Texas lifted its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF – Get Rating) by 7.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,715 shares of the company’s stock after acquiring an additional 605 shares during the quarter. Teacher Retirement System of Texas’ holdings in Fox Factory were worth $854,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Lindenwold Advisors raised its holdings in Fox Factory by 5.4% during the 1st quarter. Lindenwold Advisors now owns 2,648 shares of the company’s stock valued at $259,000 after buying an additional 135 shares during the last quarter. M&T Bank Corp raised its holdings in Fox Factory by 9.2% during the 1st quarter. M&T Bank Corp now owns 21,823 shares of the company’s stock valued at $2,138,000 after buying an additional 1,831 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Fox Factory during the 1st quarter valued at $380,000. RMB Capital Management LLC raised its holdings in Fox Factory by 11.3% during the 1st quarter. RMB Capital Management LLC now owns 93,734 shares of the company’s stock valued at $9,181,000 after buying an additional 9,486 shares during the last quarter. Finally, Pembroke Management LTD raised its holdings in Fox Factory by 2.2% during the 1st quarter. Pembroke Management LTD now owns 68,467 shares of the company’s stock valued at $6,706,000 after buying an additional 1,448 shares during the last quarter. 99.49% of the stock is currently owned by institutional investors.
Insider Transactions at Fox Factory
In other news, Director Dudley W. Mendenhall sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $104.43, for a total value of $208,860.00. Following the sale, the director now directly owns 10,110 shares of the company’s stock, valued at approximately $1,055,787.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Christopher Tutton sold 8,055 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $103.21, for a total transaction of $831,356.55. Following the sale, the insider now directly owns 11,712 shares of the company’s stock, valued at approximately $1,208,795.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dudley W. Mendenhall sold 2,000 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $104.43, for a total transaction of $208,860.00. Following the sale, the director now directly owns 10,110 shares in the company, valued at $1,055,787.30. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and upped their price objective for the stock from $88.00 to $115.00 in a report on Friday, August 5th. Jefferies Financial Group decreased their price objective on shares of Fox Factory from $140.00 to $110.00 and set a “buy” rating for the company in a report on Friday, June 24th.
Fox Factory Stock Down 3.7 %
NASDAQ:FOXF opened at $103.23 on Friday. The firm’s 50-day moving average price is $90.48 and its 200-day moving average price is $95.41. The company has a market capitalization of $4.36 billion, a PE ratio of 23.95, a P/E/G ratio of 0.97 and a beta of 1.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.38 and a quick ratio of 2.10. Fox Factory Holding Corp. has a 1-year low of $69.28 and a 1-year high of $190.29.
Fox Factory (NASDAQ:FOXF – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.16. The firm had revenue of $406.71 million for the quarter, compared to the consensus estimate of $399.13 million. Fox Factory had a net margin of 12.42% and a return on equity of 22.70%. The company’s revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 EPS. On average, equities analysts predict that Fox Factory Holding Corp. will post 5.2 EPS 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.
Further Reading
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