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

Daiwa Securities Group Inc. lessened its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 57.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,567 shares of the company’s stock after selling 29,380 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Fox Factory were worth $653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FOXF. Assenagon Asset Management S.A. grew its holdings in Fox Factory by 595.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 247,435 shares of the company’s stock worth $7,490,000 after purchasing an additional 211,864 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Fox Factory by 271.6% during the third quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company’s stock valued at $7,921,000 after buying an additional 139,512 shares during the last quarter. Disciplined Growth Investors Inc. MN purchased a new stake in shares of Fox Factory during the third quarter valued at approximately $5,743,000. ArrowMark Colorado Holdings LLC grew its holdings in shares of Fox Factory by 15.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock valued at $38,471,000 after buying an additional 127,187 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Fox Factory by 474.7% during the third quarter. Barclays PLC now owns 122,806 shares of the company’s stock valued at $5,097,000 after buying an additional 101,437 shares during the last quarter.

Fox Factory Stock Up 2.0 %

FOXF opened at $24.80 on Friday. 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 $23.91 and a 1-year high of $54.86. The company has a market capitalization of $1.03 billion, a PE ratio of 95.39, a PEG ratio of 1.45 and a beta of 1.65. The firm’s 50 day simple moving average is $27.08 and its two-hundred day simple moving average is $32.69.

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

Analysts Set New Price Targets

A number of research firms have recently commented on FOXF. Robert W. Baird cut their price target on shares of Fox Factory from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group cut their price target on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, December 11th. Truist Financial lowered their price objective on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.14.

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.