Fox Factory Holding Corp. (NASDAQ:FOXF) Shares Sold by Shellback Capital LP

Shellback Capital LP lessened its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 29.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 60,000 shares of the company’s stock after selling 25,000 shares during the period. Shellback Capital LP’s holdings in Fox Factory were worth $2,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FOXF. Quest Partners LLC acquired a new stake in shares of Fox Factory in the fourth quarter worth $31,000. YHB Investment Advisors Inc. acquired a new stake in Fox Factory during the 1st quarter worth about $42,000. TFO Wealth Partners LLC raised its stake in shares of Fox Factory by 14,180.0% during the 4th quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock valued at $48,000 after buying an additional 709 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Fox Factory by 26.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after buying an additional 261 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Fox Factory by 31.8% in the first quarter. Covestor Ltd now owns 1,518 shares of the company’s stock worth $79,000 after buying an additional 366 shares during the last quarter.

Insider Buying and Selling at Fox Factory

In other news, CEO Michael C. Dennison bought 4,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $41.44 per share, with a total value of $198,912.00. Following the completion of the transaction, the chief executive officer now directly owns 135,066 shares in the company, valued at $5,597,135.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.

Fox Factory Stock Performance

NASDAQ FOXF opened at $41.61 on Friday. Fox Factory Holding Corp. has a fifty-two week low of $34.56 and a fifty-two week high of $100.82. The firm has a market capitalization of $1.73 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 2.92 and a beta of 1.63. The stock’s fifty day moving average is $42.13 and its two-hundred day moving average is $44.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The business had revenue of $348.49 million during the quarter, compared to the consensus estimate of $346.22 million. During the same quarter last year, the firm earned $1.21 EPS. The business’s revenue was down 13.0% compared to the same quarter last year. On average, research analysts anticipate that Fox Factory Holding Corp. will post 1.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Robert W. Baird reduced their price target on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Bank of America dropped their target price 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. B. Riley lowered their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Truist Financial dropped their price objective on Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.17.

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.