Balyasny Asset Management L.P. Purchases 189,029 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Balyasny Asset Management L.P. increased its position in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 1,085.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,440 shares of the company's stock after purchasing an additional 189,029 shares during the period. Balyasny Asset Management L.P. owned 0.50% of Fox Factory worth $6,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FOXF. The Manufacturers Life Insurance Company increased its stake in shares of Fox Factory by 6,413.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,352,242 shares of the company's stock valued at $40,932,000 after purchasing an additional 1,331,480 shares in the last quarter. RWWM Inc. boosted its position in shares of Fox Factory by 174.0% in the 4th quarter. RWWM Inc. now owns 1,997,531 shares of the company's stock worth $60,465,000 after purchasing an additional 1,268,460 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of Fox Factory in the 4th quarter worth approximately $19,252,000. William Blair Investment Management LLC increased its position in Fox Factory by 17.1% during the 4th quarter. William Blair Investment Management LLC now owns 2,983,482 shares of the company's stock valued at $90,310,000 after buying an additional 434,998 shares in the last quarter. Finally, Capital World Investors raised its stake in Fox Factory by 21.8% during the fourth quarter. Capital World Investors now owns 1,341,155 shares of the company's stock valued at $40,597,000 after buying an additional 240,416 shares during the last quarter.

Wall Street Analysts Forecast Growth

FOXF has been the subject of several analyst reports. Robert W. Baird reduced their price target on Fox Factory from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, April 4th. Truist Financial reduced their price target on Fox Factory from $40.00 to $24.00 and set a "buy" rating for the company in a report on Monday, April 14th. Jefferies Financial Group reduced their price target on Fox Factory from $45.00 to $38.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Stifel Nicolaus reduced their price target on Fox Factory from $40.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $35.00.

Fox Factory Stock Performance

NASDAQ FOXF traded up $0.57 during trading hours on Tuesday, hitting $26.33. The company's stock had a trading volume of 848,307 shares, compared to its average volume of 613,245. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The company has a market cap of $1.10 billion, a P/E ratio of 101.27, a price-to-earnings-growth ratio of 1.45 and a beta of 1.54. The company's 50 day simple moving average is $22.42 and its two-hundred day simple moving average is $27.30. Fox Factory Holding Corp. has a 12 month low of $17.95 and a 12 month high of $54.86.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The firm had revenue of $355.03 million during the quarter, compared to analyst estimates of $330.71 million. During the same period in the previous year, the business posted $0.29 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers 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; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.