Retirement Systems of Alabama reduced its stake in Fox Factory Holding Corp. (NASDAQ: FOXF – Get Rating) by 48.7% during the 1st quarter, according to the company in its most recent communication to the Securities & Exchange Commission. The institutional investor held 55,245 shares of the company after selling 52,390 shares during the period. Retirement Systems of Alabama’s holdings in Fox Factory were worth $5,411,000 at the end of the most recent reporting period.
A number of other big investors have also recently increased or reduced their stakes in the stock. YorkBridge Wealth Partners LLC increased its stake in Fox Factory by 65.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,123 shares of the company valued at $404,000 after acquiring 1,629 additional shares last quarter. Brookstone Capital Management increased its stake in Fox Factory by 8.6% in the first quarter. Brookstone Capital Management now owns 3,768 shares of the company valued at $355,000 after acquiring 297 additional shares in the last quarter. FirstPurpose Wealth LLC bought a new stake in Fox Factory in the fourth quarter worth $209,000. Castleark Management LLC purchased a new stake in Fox Factory in the fourth quarter valued at $9,126,000. Finally, MetLife Investment Management LLC increased its stake in Fox Factory shares by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 35,081 shares of the company valued at $5,967,000 after buying 177 additional shares last quarter. Institutional investors and hedge funds own 99.49% of the company’s shares.
A number of brokerages have recently commented on FOXF. StockNews.com began covering Fox Factory shares in a report on Thursday, March 31. They have placed a “holding” rating on the stock. TheStreet cut Fox Factory shares from a “b” rating to a “c+” rating in a Thursday, March 10 report. Finally, Jefferies Financial Group lowered its price target on Fox Factory shares from $140.00 to $110.00 and set a “buy” rating on the stock in a Friday, June 24 report.
Fox Factory shares opened at $85.21 on Thursday. The stock has a market capitalization of $3.59 billion, a price/earnings ratio of 20.78, a PEG ratio of 0.80 and a beta of 1.72. The company’s 50-day moving average is $81.37 and its 200-day moving average is $107.47. Fox Factory Holding Corp. has a 1-year minimum of $69.28 and a 1-year maximum of $190.29. The company has a debt ratio of 0.42, a current ratio of 3.05 and a quick ratio of 1.93.
Fox Factory (NASDAQ:FOXF – Get Rating) last announced its quarterly results on Thursday, May 5. The company reported earnings per share (EPS) of $1.32 for the quarter, beating analyst consensus estimates of $1.13 by $0.19. The company posted revenue of $377.98 million for the quarter, compared to $335.60 million expected by analysts. Fox Factory had a net margin of 12.46% and a return on equity of 23.11%. Fox Factory’s revenue increased 34.4% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $1.05. On average, stock analysts expect Fox Factory Holding Corp. has an EPS of 5.16 for the current financial year.
About Fox Factory (Get a rating)
Fox Factory Holding Corp. designs, engineers, manufactures and markets driving dynamics products worldwide. The company offers mid-range and high-end front fork and rear suspension products for mountain bikes, road bikes and e-bikes; and motor vehicle products for side-by-side vehicles, road vehicles with and without off-road capabilities, all-terrain vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks.
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