Voloridge Investment Management LLC Raises Stock Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Voloridge Investment Management LLC grew its stake in Fox Factory Holding Corp. (NASDAQ:FOXF) by 31.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 617,352 shares of the company’s stock after acquiring an additional 148,925 shares during the quarter. Voloridge Investment Management LLC’s holdings in Fox Factory were worth $18,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new stake in shares of Fox Factory in the fourth quarter valued at $45,000. KBC Group NV increased its stake in Fox Factory by 80.4% in the fourth quarter. KBC Group NV now owns 2,484 shares of the company’s stock valued at $75,000 after purchasing an additional 1,107 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in Fox Factory in the fourth quarter valued at $143,000. Magnetar Financial LLC acquired a new position in Fox Factory in the fourth quarter valued at $206,000. Finally, Aristides Capital LLC acquired a new position in Fox Factory in the fourth quarter valued at $206,000.

Fox Factory Trading Up 0.5%

Shares of FOXF stock opened at $24.42 on Friday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 93.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.54. 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 fifty-two week low of $17.95 and a fifty-two week high of $54.86. The firm’s 50 day moving average price is $22.43 and its two-hundred day moving average price is $26.85.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The firm had revenue of $355.03 million for the quarter, compared to analysts’ expectations of $330.71 million. During the same period in the previous year, the company posted $0.29 earnings per share. Fox Factory’s revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Stifel Nicolaus dropped their target price on Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Robert W. Baird dropped their target price on Fox Factory from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 4th. Truist Financial upped their target price on Fox Factory from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Finally, Jefferies Financial Group dropped their target price on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.43.

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.