Fox Factory Holding Corp. $FOXF Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC cut its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 65.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,754 shares of the company’s stock after selling 55,501 shares during the quarter. GW&K Investment Management LLC’s holdings in Fox Factory were worth $723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. First Horizon Corp acquired a new stake in shares of Fox Factory in the third quarter worth $25,000. Federated Hermes Inc. purchased a new position in shares of Fox Factory during the third quarter worth $25,000. PNC Financial Services Group Inc. lifted its position in Fox Factory by 23.8% during the third quarter. PNC Financial Services Group Inc. now owns 7,365 shares of the company’s stock valued at $179,000 after purchasing an additional 1,415 shares during the period. Resona Asset Management Co. Ltd. lifted its position in Fox Factory by 21.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 7,503 shares of the company’s stock valued at $194,000 after purchasing an additional 1,300 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in Fox Factory by 9.2% in the third quarter. KLP Kapitalforvaltning AS now owns 8,300 shares of the company’s stock valued at $202,000 after purchasing an additional 700 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Fox Factory Stock Performance

Shares of NASDAQ FOXF opened at $16.31 on Friday. The company has a market capitalization of $681.77 million, a PE ratio of -1.25 and a beta of 1.50. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.37 and a current ratio of 2.86. The company’s fifty day moving average price is $18.61 and its 200 day moving average price is $20.69. 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 released its quarterly earnings data on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The company had revenue of $361.07 million during the quarter, compared to analysts’ expectations of $353.88 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Fox Factory Company Profile

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.