Fox Factory Holding Corp. (NASDAQ:FOXF) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning trimmed its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 34.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,824 shares of the company’s stock after selling 948 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Fox Factory were worth $95,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FOXF. Cannon Global Investment Management LLC purchased a new position in Fox Factory during the first quarter worth $260,000. Brookstone Capital Management increased its position in Fox Factory by 14.0% during the 1st quarter. Brookstone Capital Management now owns 7,340 shares of the company’s stock worth $382,000 after purchasing an additional 903 shares in the last quarter. Partnership Wealth Management LLC acquired a new position in Fox Factory in the 1st quarter valued at about $859,000. Vanguard Group Inc. boosted its stake in shares of Fox Factory by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock worth $286,279,000 after purchasing an additional 46,132 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Fox Factory during the fourth quarter worth about $379,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on FOXF shares. Robert W. Baird reduced their price objective on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Bank of America decreased their price objective on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. B. Riley dropped their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Stifel Nicolaus decreased their price target on Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Finally, Roth Mkm dropped their price objective on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.67.

Insiders Place Their Bets

In other Fox Factory news, CEO Michael C. Dennison bought 11,250 shares of Fox Factory stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $44.30 per share, for a total transaction of $498,375.00. Following the acquisition, the chief executive officer now owns 130,266 shares of the company’s stock, valued at approximately $5,770,783.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Michael C. Dennison bought 11,250 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $44.30 per share, for a total transaction of $498,375.00. Following the completion of the purchase, the chief executive officer now owns 130,266 shares in the company, valued at $5,770,783.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas L. Fletcher sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total value of $88,820.00. Following the sale, the insider now owns 11,311 shares in the company, valued at $502,321.51. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Fox Factory Price Performance

FOXF stock opened at $48.40 on Friday. The company has a market cap of $2.01 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 2.06 and a beta of 1.66. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $46.06 and a two-hundred day moving average price of $53.18. Fox Factory Holding Corp. has a 12-month low of $37.98 and a 12-month high of $117.68.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $333.50 million during the quarter, compared to analysts’ expectations of $327.58 million. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. As a group, research analysts predict that Fox Factory Holding Corp. will post 2.4 EPS for the current 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.