Prudential Financial Inc. lessened its stake in Fox Factory Holding Corp (NASDAQ:FOXF) by 6.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,510 shares of the company’s stock after selling 4,400 shares during the quarter. Prudential Financial Inc.’s holdings in Fox Factory were worth $2,182,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Fox Factory by 2.3% in the fourth quarter. BlackRock Inc. now owns 4,549,511 shares of the company’s stock worth $176,748,000 after buying an additional 103,233 shares in the last quarter. Standard Life Aberdeen plc increased its position in Fox Factory by 14.8% in the fourth quarter. Standard Life Aberdeen plc now owns 1,327,848 shares of the company’s stock worth $51,587,000 after purchasing an additional 171,247 shares during the last quarter. Bank of New York Mellon Corp increased its position in Fox Factory by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 623,466 shares of the company’s stock worth $24,222,000 after purchasing an additional 6,324 shares during the last quarter. Deutsche Bank AG increased its position in Fox Factory by 53.5% in the fourth quarter. Deutsche Bank AG now owns 398,545 shares of the company’s stock worth $15,482,000 after purchasing an additional 138,981 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Fox Factory by 11.2% in the fourth quarter. Geode Capital Management LLC now owns 336,969 shares of the company’s stock worth $13,091,000 after purchasing an additional 33,865 shares during the last quarter. 99.96% of the stock is currently owned by hedge funds and other institutional investors.
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Fox Factory opened at $42.20 on Friday, Marketbeat reports. The company has a current ratio of 2.45, a quick ratio of 1.30 and a debt-to-equity ratio of 0.29. Fox Factory Holding Corp has a twelve month low of $31.55 and a twelve month high of $46.80. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.00 and a beta of 0.69.
Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Wednesday, May 2nd. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Fox Factory had a net margin of 10.78% and a return on equity of 26.52%. The business had revenue of $129.80 million for the quarter, compared to analysts’ expectations of $125.76 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. analysts anticipate that Fox Factory Holding Corp will post 1.83 EPS for the current fiscal year.
In other Fox Factory news, CFO Zvi Glasman sold 10,500 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $38.81, for a total transaction of $407,505.00. Following the transaction, the chief financial officer now owns 37,067 shares in the company, valued at $1,438,570.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.
FOXF has been the topic of several research reports. Zacks Investment Research cut shares of Fox Factory from a “buy” rating to a “hold” rating in a research report on Friday, March 30th. BidaskClub cut shares of Fox Factory from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. ValuEngine upgraded shares of Fox Factory from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Bank of America upgraded shares of Fox Factory from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, May 1st. Finally, DA Davidson restated a “buy” rating on shares of Fox Factory in a research report on Monday, May 7th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $39.50.
About Fox Factory
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
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