Goldman Sachs Group Inc. Lowers Stock Holdings in Fox Factory Holding Corp. $FOXF

Key Points

• Goldman Sachs Group Inc. reduced its stake in Fox Factory Holding Corp. by 32.9%, now owning approximately 311,938 shares worth $7.28 million after selling 152,686 shares in the first quarter.
• Fox Factory's stock fell by 5.4%, with a current market cap of $1.14 billion and a 12-month PE ratio of -4.50, despite reporting a 7.6% year-over-year increase in revenue.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Fox Factory, with a price target of $33.50, as some firms raised their price objectives following its recent quarterly earnings report.

Goldman Sachs Group Inc. reduced its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 32.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,938 shares of the company's stock after selling 152,686 shares during the quarter. Goldman Sachs Group Inc. owned about 0.75% of Fox Factory worth $7,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Precision Wealth Strategies LLC grew its holdings in Fox Factory by 6.3% during the 1st quarter. Precision Wealth Strategies LLC now owns 9,321 shares of the company's stock valued at $218,000 after buying an additional 549 shares in the last quarter. CWM LLC boosted its position in shares of Fox Factory by 76.2% during the 1st quarter. CWM LLC now owns 1,341 shares of the company's stock valued at $31,000 after acquiring an additional 580 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Fox Factory by 142.8% during the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company's stock valued at $32,000 after acquiring an additional 807 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Fox Factory by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,039 shares of the company's stock valued at $728,000 after acquiring an additional 816 shares during the last quarter. Finally, Eukles Asset Management boosted its position in shares of Fox Factory by 80.3% during the 1st quarter. Eukles Asset Management now owns 2,265 shares of the company's stock valued at $53,000 after acquiring an additional 1,009 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their target price on Fox Factory from $34.00 to $36.00 and gave the company a "buy" rating in a research report on Friday, August 8th. B. Riley restated a "neutral" rating and issued a $32.00 price target (up from $26.00) on shares of Fox Factory in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $33.50.

Fox Factory Trading Down 2.0%

NASDAQ:FOXF traded down $0.52 during trading hours on Friday, hitting $25.74. The company had a trading volume of 177,472 shares, compared to its average volume of 593,714. The company has a current ratio of 3.03, a quick ratio of 1.36 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $28.66 and a 200 day moving average of $25.70. The company has a market cap of $1.08 billion, a P/E ratio of -4.24 and a beta of 1.48. Fox Factory Holding Corp. has a 1 year low of $17.95 and a 1 year high of $44.27.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $374.86 million for the quarter, compared to analysts' expectations of $349.01 million. Fox Factory had a positive return on equity of 5.03% and a negative net margin of 17.50%.The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. Fox Factory has set its FY 2025 guidance at 1.600-2.000 EPS. Q3 2025 guidance at 0.450-0.650 EPS. Sell-side analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Fox Factory Profile

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.