Daiwa Securities Group Inc. Trims Stock Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Daiwa Securities Group Inc. trimmed its stake in Fox Factory Holding Corp. (NASDAQ:FOXF) by 5.6% during the third quarter, Holdings Channel.com reports. The fund owned 50,947 shares of the company’s stock after selling 3,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Fox Factory were worth $2,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FOXF. Pacer Advisors Inc. raised its stake in shares of Fox Factory by 25,005.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after acquiring an additional 1,578,822 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Fox Factory in the 2nd quarter valued at approximately $53,294,000. D. E. Shaw & Co. Inc. raised its stake in shares of Fox Factory by 25.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock valued at $32,483,000 after acquiring an additional 135,542 shares during the period. Jane Street Group LLC raised its stake in shares of Fox Factory by 173.7% in the 1st quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock valued at $9,470,000 after acquiring an additional 115,432 shares during the period. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Fox Factory in the 2nd quarter valued at approximately $4,414,000.

Fox Factory Trading Up 1.8 %

NASDAQ FOXF opened at $32.30 on Friday. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. Fox Factory Holding Corp. has a 52 week low of $30.92 and a 52 week high of $70.13. The stock has a market capitalization of $1.35 billion, a PE ratio of 124.24, a price-to-earnings-growth ratio of 2.72 and a beta of 1.65. The firm has a 50 day moving average of $37.35 and a two-hundred day moving average of $42.17.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm had revenue of $359.10 million for the quarter, compared to analyst estimates of $366.86 million. During the same quarter last year, the firm earned $1.05 EPS. The company’s revenue was up 8.4% on a year-over-year basis. As a group, research analysts expect that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FOXF. Robert W. Baird reduced their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. B. Riley cut their target price 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. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday. Bank of America cut 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 note on Thursday, September 12th. Finally, Truist Financial cut their target price on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.50.

Fox Factory 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.