Formula Growth Ltd. Makes New Investment in Fox Factory Holding Corp. (NASDAQ:FOXF)

Formula Growth Ltd. purchased a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 30,000 shares of the company's stock, valued at approximately $908,000. Formula Growth Ltd. owned 0.07% of Fox Factory at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FOXF. RWWM Inc. boosted its holdings in Fox Factory by 174.0% in the 4th quarter. RWWM Inc. now owns 1,997,531 shares of the company's stock worth $60,465,000 after buying an additional 1,268,460 shares during the period. William Blair Investment Management LLC lifted its position in Fox Factory by 17.1% in the fourth quarter. William Blair Investment Management LLC now owns 2,983,482 shares of the company's stock valued at $90,310,000 after purchasing an additional 434,998 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of 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 last quarter. JPMorgan Chase & Co. increased its position in Fox Factory by 271.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company's stock valued at $7,921,000 after purchasing an additional 139,512 shares during the period. Finally, Barclays PLC raised its holdings in Fox Factory by 474.7% in the 3rd quarter. Barclays PLC now owns 122,806 shares of the company's stock worth $5,097,000 after purchasing an additional 101,437 shares in the last quarter.

Fox Factory Stock Up 0.1 %

Shares of NASDAQ:FOXF traded up $0.02 during trading on Wednesday, reaching $20.35. 527,152 shares of the stock traded hands, compared to its average volume of 619,034. The stock has a 50-day moving average of $23.83 and a two-hundred day moving average of $29.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. Fox Factory Holding Corp. has a 52-week low of $17.95 and a 52-week high of $54.86. The stock has a market cap of $848.84 million, a P/E ratio of 78.27, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, beating 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 firm had revenue of $352.84 million during the quarter, compared to analysts' expectations of $321.31 million. As a group, sell-side analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on FOXF shares. Jefferies Financial Group lowered their price objective on shares of Fox Factory from $45.00 to $38.00 and set a "buy" rating for the company in a report on Friday, February 28th. Robert W. Baird reduced their price target on Fox Factory from $32.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. Truist Financial lowered their price objective on Fox Factory from $40.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus decreased their price target on shares of Fox Factory from $40.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $35.00.

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.