UBS Group AG Sells 55,869 Shares of Fox Factory Holding Corp. $FOXF

UBS Group AG reduced its position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 19.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 224,858 shares of the company’s stock after selling 55,869 shares during the quarter. UBS Group AG owned approximately 0.54% of Fox Factory worth $3,847,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in Fox Factory during the 3rd quarter valued at $25,000. Farther Finance Advisors LLC increased its position in Fox Factory by 108.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after purchasing an additional 1,079 shares during the period. PNC Financial Services Group Inc. increased its position in Fox Factory by 23.8% during the 3rd 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. Russell Investments Group Ltd. increased its position in Fox Factory by 12.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock valued at $203,000 after purchasing an additional 858 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Fox Factory by 526.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,925 shares of the company’s stock valued at $206,000 after purchasing an additional 6,659 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus set a $24.00 price objective on shares of Fox Factory in a research report on Thursday, April 16th. Weiss Ratings downgraded shares of Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Roth Mkm reissued a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a research report on Friday, May 8th. Finally, Zacks Research downgraded shares of Fox Factory from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.33.

Fox Factory Stock Down 0.3%

NASDAQ:FOXF opened at $16.28 on Friday. The firm’s 50-day moving average price is $16.87 and its 200-day moving average price is $17.36. The company has a market capitalization of $682.78 million, a PE ratio of -2.27, a P/E/G ratio of 0.57 and a beta of 1.37. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.99 and a quick ratio of 1.52. 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 earnings results on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. The firm had revenue of $368.66 million for the quarter, compared to the consensus estimate of $351.76 million. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. On average, equities analysts predict that Fox Factory Holding Corp. will post 1.41 EPS for the current fiscal 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.