Malaga Cove Capital LLC Purchases 2,671 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Malaga Cove Capital LLC increased its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 28.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,050 shares of the company’s stock after buying an additional 2,671 shares during the quarter. Malaga Cove Capital LLC’s holdings in Fox Factory were worth $500,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in Fox Factory by 26.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after purchasing an additional 261 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Fox Factory by 86.0% in the third quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after buying an additional 277 shares in the last quarter. Covestor Ltd boosted its stake in Fox Factory by 31.8% during the first quarter. Covestor Ltd now owns 1,518 shares of the company’s stock valued at $79,000 after buying an additional 366 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Fox Factory by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 37,006 shares of the company’s stock valued at $1,927,000 after buying an additional 395 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in Fox Factory by 7.3% in the 3rd quarter. Park Avenue Securities LLC now owns 6,023 shares of the company’s stock worth $250,000 after acquiring an additional 410 shares during the last quarter.

Fox Factory Stock Up 5.1 %

Shares of FOXF opened at $35.98 on Thursday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 138.39, a P/E/G ratio of 2.74 and a beta of 1.65. Fox Factory Holding Corp. has a 12-month low of $31.19 and a 12-month high of $70.13. The firm has a fifty day moving average price of $39.16 and a 200-day moving average price of $43.13. 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 (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The company had revenue of $359.10 million during the quarter, compared to analysts’ expectations of $366.86 million. During the same period last year, the firm earned $1.05 earnings per share. Fox Factory’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Truist Financial dropped their price objective on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, November 1st. B. Riley decreased 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 report on Friday, August 2nd. Roth Mkm lowered their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Bank of America decreased their price objective on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. One equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.50.

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.