Fox Factory (NASDAQ:FOXF) Insider Sells 1,375 Shares of Stock

Fox Factory Holding Corp. (NASDAQ:FOXF) insider Toby Merchant sold 1,375 shares of Fox Factory stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $18.43, for a total value of $25,341.25. Following the transaction, the insider owned 56,384 shares in the company, valued at $1,039,157.12. This represents a 2.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Fox Factory Stock Down 1.1%

Fox Factory stock traded down $0.18 during mid-day trading on Friday, hitting $17.14. The company’s stock had a trading volume of 70,406 shares, compared to its average volume of 672,827. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.82 and a quick ratio of 1.37. Fox Factory Holding Corp. has a 52-week low of $13.08 and a 52-week high of $22.09. The firm’s 50 day moving average is $17.89 and its 200 day moving average is $18.07. The company has a market cap of $720.18 million, a PE ratio of -1.76, a price-to-earnings-growth ratio of 1.14 and a beta of 1.39.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, November 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.22. The company had revenue of $338.41 million for the quarter, compared to the consensus estimate of $337.56 million. Fox Factory had a positive return on equity of 8.43% and a negative net margin of 28.58%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, analysts anticipate that Fox Factory Holding Corp. will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Fox Factory

A number of hedge funds have recently added to or reduced their stakes in the company. Boston Partners lifted its stake in Fox Factory by 69.3% in the third quarter. Boston Partners now owns 97,735 shares of the company’s stock valued at $1,795,000 after acquiring an additional 39,997 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in Fox Factory in the third quarter worth $186,000. Royce & Associates LP boosted its holdings in Fox Factory by 1.7% in the third quarter. Royce & Associates LP now owns 866,806 shares of the company’s stock worth $15,923,000 after purchasing an additional 14,417 shares in the last quarter. Villanova Investment Management Co acquired a new position in Fox Factory during the third quarter worth $1,366,000. Finally, Pullen Investment Management LLC increased its position in Fox Factory by 0.7% during the third quarter. Pullen Investment Management LLC now owns 137,422 shares of the company’s stock worth $2,524,000 after buying an additional 900 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on FOXF shares. B. Riley Financial dropped their price objective on shares of Fox Factory from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Fox Factory from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 6th. Zacks Research downgraded shares of Fox Factory from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 20th. Stifel Nicolaus set a $25.00 price objective on Fox Factory in a report on Wednesday, September 30th. Finally, Roth Capital reissued a “neutral” rating and set a $17.00 price objective on shares of Fox Factory in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.60.

About Fox Factory

Fox Factory Holding Corp. designs, engineers and manufactures ride-dynamics and performance products for vehicles and outdoor recreation. Its offerings include suspension systems and components used in mountain bikes, motorcycles, off-road vehicles, trucks and other applications. The company sells products under brands including FOX, Marzocchi, Race Face and Easton. Its portfolio serves original equipment manufacturers as well as aftermarket customers, with products distributed in markets around the world.