Corient Private Wealth LP Invests $1.95 Million in Fox Factory Holding Corp. $FOXF

Key Points

• Corient Private Wealth LP acquired 114,961 Fox Factory shares worth approximately $1.95 million during the second quarter, representing about 0.27% of the company.
• Fox Factory reported quarterly EPS of $0.37, beating estimates of $0.18, while revenue of $358.12 million exceeded expectations but declined 4.5% year over year.
• FOXF shares opened at $20.41, with analysts holding a “Moderate Buy” consensus rating and an average price target of $21.00, despite mixed ratings ranging from Strong Buy to Sell.

Corient Private Wealth LP acquired a new position in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 114,961 shares of the company's stock, valued at approximately $1,948,000. Corient Private Wealth LP owned about 0.27% of Fox Factory at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada grew its stake in Fox Factory by 82.2% in the 1st quarter. Royal Bank of Canada now owns 12,898 shares of the company's stock worth $301,000 after buying an additional 5,820 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Fox Factory by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,142 shares of the company's stock worth $587,000 after acquiring an additional 1,103 shares during the last quarter. Millennium Management LLC grew its position in Fox Factory by 18.7% in the first quarter. Millennium Management LLC now owns 464,493 shares of the company's stock worth $10,841,000 after acquiring an additional 73,090 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Fox Factory in the first quarter valued at $263,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Fox Factory by 20.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,431 shares of the company's stock valued at $2,041,000 after acquiring an additional 15,021 shares during the last quarter.

Fox Factory Price Performance

FOXF stock opened at $20.41 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.55 and a current ratio of 3.10. Fox Factory Holding Corp. has a 52 week low of $13.08 and a 52 week high of $29.97. The firm's fifty day moving average is $19.19 and its 200 day moving average is $18.03. The firm has a market cap of $857.83 million, a P/E ratio of -2.86, a P/E/G ratio of 0.57 and a beta of 1.38.

Fox Factory (NASDAQ:FOXF - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.19. The company had revenue of $358.12 million for the quarter, compared to analysts' expectations of $352.94 million. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The firm's revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. Research analysts predict that Fox Factory Holding Corp. will post 1.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FOXF. Zacks Research upgraded Fox Factory from a "hold" rating to a "strong-buy" rating in a research report on Monday. Fox Advisors set a $20.00 price objective on Fox Factory in a report on Tuesday, June 30th. Bank of America lowered Fox Factory from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $24.00 to $20.00 in a research report on Tuesday, June 30th. Weiss Ratings reissued a "sell (e+)" rating on shares of Fox Factory in a report on Friday, August 7th. Finally, Roth Capital restated a "neutral" rating and issued a $20.00 target price on shares of Fox Factory in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

About Fox Factory

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.

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