Royce & Associates LP Lowers Stock Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Key Points

• Royce & Associates LP has reduced its stake in Fox Factory Holding Corp. by 12.5%, selling 25,990 shares and now owning approximately 0.44% of the company, valued at $4.24 million.
• Multiple institutional investors have increased their stakes in Fox Factory, with RWWM Inc. raising its holdings by 79% in the first quarter, reflecting a growing interest in the stock.
• Analysts have issued mixed ratings and price targets for Fox Factory, with an average target price of $36.43 and a consensus rating of "Hold" amid recent fluctuations in performance.

Royce & Associates LP lowered its stake in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 12.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,820 shares of the company's stock after selling 25,990 shares during the quarter. Royce & Associates LP owned approximately 0.44% of Fox Factory worth $4,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Fox Factory in the fourth quarter valued at $2,543,000. American Century Companies Inc. boosted its stake in shares of Fox Factory by 48.5% during the 4th quarter. American Century Companies Inc. now owns 29,156 shares of the company's stock worth $883,000 after buying an additional 9,522 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Fox Factory in the fourth quarter valued at $230,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in Fox Factory during the 4th quarter valued at $494,000. Finally, Headlands Technologies LLC lifted its position in Fox Factory by 181.1% during the fourth quarter. Headlands Technologies LLC now owns 9,462 shares of the company's stock worth $286,000 after acquiring an additional 6,096 shares during the last quarter.

Fox Factory Stock Up 0.1%

FOXF traded up $0.02 during midday trading on Thursday, reaching $30.28. The company's stock had a trading volume of 174,080 shares, compared to its average volume of 603,795. Fox Factory Holding Corp. has a 1 year low of $17.95 and a 1 year high of $54.85. The stock's 50-day moving average is $26.61 and its 200-day moving average is $25.26. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -5.06 and a beta of 1.50. The company has a current ratio of 3.18, a quick ratio of 1.36 and a debt-to-equity ratio of 0.73.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted 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 positive return on equity of 4.70% and a negative net margin of 17.64%. The company had revenue of $355.03 million for the quarter, compared to analysts' expectations of $330.71 million. During the same period in the previous year, the firm earned $0.29 EPS. The firm's revenue was up 6.5% compared to the same quarter last year. As a group, research analysts expect that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

FOXF has been the subject of several analyst reports. Robert W. Baird dropped their target price on shares of Fox Factory from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Truist Financial increased their price target on Fox Factory from $28.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, Stifel Nicolaus reduced their price objective on Fox Factory from $40.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $36.43.

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.