Retirement Systems of Alabama Sells 70,020 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Retirement Systems of Alabama cut its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 56.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,081 shares of the company’s stock after selling 70,020 shares during the period. Retirement Systems of Alabama’s holdings in Fox Factory were worth $3,582,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Truist Financial Corp grew its position in shares of Fox Factory by 10.5% in the fourth quarter. Truist Financial Corp now owns 6,158 shares of the company’s stock valued at $416,000 after purchasing an additional 585 shares in the last quarter. Motley Fool Asset Management LLC grew its holdings in Fox Factory by 8.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 15,288 shares of the company’s stock valued at $1,032,000 after buying an additional 1,224 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Fox Factory by 57.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 40,824 shares of the company’s stock valued at $2,755,000 after buying an additional 14,858 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Fox Factory in the fourth quarter worth about $29,000. Finally, CWM LLC boosted its position in shares of Fox Factory by 54.1% in the fourth quarter. CWM LLC now owns 624 shares of the company’s stock valued at $42,000 after acquiring an additional 219 shares during the period.

Fox Factory Trading Down 1.4 %

FOXF stock opened at $43.70 on Wednesday. Fox Factory Holding Corp. has a one year low of $37.98 and a one year high of $117.68. The company has a market capitalization of $1.83 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 3.66 and a beta of 1.68. The company’s 50 day moving average price is $46.22 and its two-hundred day moving average price is $58.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. The company had revenue of $333.50 million for the quarter, compared to analysts’ expectations of $327.58 million. During the same quarter last year, the company earned $1.20 EPS. The firm’s revenue was down 16.6% compared to the same quarter last year. As a group, analysts predict that Fox Factory Holding Corp. will post 2.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FOXF has been the topic of a number of recent analyst reports. Bank of America lowered their price objective on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday. Stifel Nicolaus lowered their price target on Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Truist Financial cut their price objective on Fox Factory from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Robert W. Baird lowered their target price on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, StockNews.com cut shares of Fox Factory from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.83.

Fox Factory Company 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.