Formula Growth Ltd. Makes New $908,000 Investment in Fox Factory Holding Corp. (NASDAQ:FOXF)

Formula Growth Ltd. bought a new stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 30,000 shares of the company’s stock, valued at approximately $908,000. Formula Growth Ltd. owned about 0.07% of Fox Factory at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co raised its position in Fox Factory by 4.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 41,101 shares of the company’s stock worth $1,244,000 after acquiring an additional 1,890 shares during the period. Marshall Wace LLP purchased a new stake in shares of Fox Factory during the 4th quarter worth approximately $1,091,000. XTX Topco Ltd bought a new stake in shares of Fox Factory in the 4th quarter worth approximately $234,000. RWWM Inc. lifted its stake in Fox Factory by 174.0% in the fourth quarter. RWWM Inc. now owns 1,997,531 shares of the company’s stock valued at $60,465,000 after purchasing an additional 1,268,460 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Fox Factory during the fourth quarter valued at $2,543,000.

Analyst Ratings Changes

Several analysts have issued reports on FOXF shares. Jefferies Financial Group lowered their target price on Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Truist Financial lowered their price objective on Fox Factory from $40.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Robert W. Baird reduced 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 note on Friday, April 4th. Finally, Stifel Nicolaus lowered their price target on shares of Fox Factory from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.00.

Fox Factory Stock Performance

Fox Factory stock opened at $19.66 on Friday. The firm’s 50 day simple moving average is $24.05 and its 200 day simple moving average is $29.47. The firm has a market capitalization of $820.06 million, a PE ratio of 75.62, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62. Fox Factory Holding Corp. has a 1-year low of $17.95 and a 1-year high of $54.86.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The company had revenue of $352.84 million during the quarter, compared to analyst estimates of $321.31 million. As a group, analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

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.