Fox Factory Holding Corp. (NASDAQ:FOXF) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,947 shares of the company’s stock after selling 5,000 shares during the quarter. Daiwa Securities Group Inc. owned approximately 0.13% of Fox Factory worth $2,600,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Fox Factory by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after buying an additional 228,339 shares during the last quarter. Clearbridge Investments LLC raised its position in Fox Factory by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,230,987 shares of the company’s stock valued at $64,097,000 after purchasing an additional 7,468 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in Fox Factory by 1.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock worth $44,019,000 after purchasing an additional 13,936 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Fox Factory by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 821,862 shares of the company’s stock worth $55,461,000 after buying an additional 12,474 shares during the period. Finally, Norges Bank purchased a new position in shares of Fox Factory in the 4th quarter valued at approximately $31,429,000.

Fox Factory Price Performance

Fox Factory stock opened at $39.39 on Friday. The firm has a market capitalization of $1.64 billion, a PE ratio of 22.01, a P/E/G ratio of 2.48 and a beta of 1.63. Fox Factory Holding Corp. has a 52 week low of $34.56 and a 52 week high of $105.38. The firm’s 50-day simple moving average is $43.43 and its 200 day simple moving average is $45.52. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The company had revenue of $348.49 million for the quarter, compared to the consensus estimate of $346.22 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. On average, equities research analysts predict that Fox Factory Holding Corp. will post 1.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. B. Riley lowered their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Truist Financial cut their price target on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Bank of America lowered their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Fox Factory currently has an average rating of “Hold” and an average price target of $46.17.

Insider Buying and Selling at Fox Factory

In related news, CEO Michael C. Dennison acquired 4,800 shares of Fox Factory stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by insiders.

About Fox Factory

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.