Headlands Technologies LLC Purchases 18,286 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Key Points

• Headlands Technologies LLC significantly increased its holdings in Fox Factory Holding Corp. by 193.3% during the first quarter, acquiring an additional 18,286 shares, bringing its total to 27,748 shares valued at $648,000.
• A number of hedge funds have also invested heavily in Fox Factory, with RWWM Inc. raising its position by 79% to over 3.5 million shares, showcasing increased institutional interest in the company.
• Analysts are optimistic about Fox Factory's performance, with Truist Financial and Stifel Nicolaus both upgrading their target prices for the stock, reflecting a consensus rating of "Hold" with an average target price of $34.86.

Headlands Technologies LLC increased its stake in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 193.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,748 shares of the company's stock after acquiring an additional 18,286 shares during the quarter. Headlands Technologies LLC owned 0.07% of Fox Factory worth $648,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. CWM LLC grew its position in Fox Factory by 76.2% in the 1st quarter. CWM LLC now owns 1,341 shares of the company's stock valued at $31,000 after purchasing an additional 580 shares during the period. Versant Capital Management Inc grew its position in Fox Factory by 142.8% in the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company's stock valued at $32,000 after purchasing an additional 807 shares during the period. Quarry LP acquired a new stake in Fox Factory in the 4th quarter valued at $45,000. GAMMA Investing LLC grew its position in Fox Factory by 254.1% in the 1st quarter. GAMMA Investing LLC now owns 1,696 shares of the company's stock valued at $40,000 after purchasing an additional 1,217 shares during the period. Finally, First Horizon Advisors Inc. grew its position in Fox Factory by 113.8% in the 1st quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company's stock valued at $46,000 after purchasing an additional 1,038 shares during the period.

Fox Factory Stock Down 6.7%

FOXF traded down $2.03 during mid-day trading on Friday, reaching $28.07. 1,565,414 shares of the stock were exchanged, compared to its average volume of 788,221. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.36 and a current ratio of 3.03. The stock has a market capitalization of $1.17 billion, a PE ratio of -4.64 and a beta of 1.50. The company has a 50 day moving average price of $27.41 and a two-hundred day moving average price of $25.30. 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 issued 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 company had revenue of $374.86 million during 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%. Fox Factory's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. As a group, research analysts anticipate that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on FOXF. Stifel Nicolaus lifted their price target on shares of Fox Factory from $34.00 to $36.00 and gave the company a "buy" rating in a research report on Friday. B. Riley lifted their price target on shares of Fox Factory from $26.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Truist Financial lifted their price target on shares of Fox Factory from $28.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $34.86.

Fox Factory Company 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.