Louisiana State Employees Retirement System Makes New $803,000 Investment in Fox Factory Holding Corp. (NASDAQ:FOXF)

Louisiana State Employees Retirement System bought a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,900 shares of the company’s stock, valued at approximately $803,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Operose Advisors LLC bought a new position in shares of Fox Factory in the third quarter valued at approximately $37,000. Assetmark Inc. boosted its position in shares of Fox Factory by 171.4% in the third quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after acquiring an additional 240 shares during the period. CVA Family Office LLC bought a new position in shares of Fox Factory in the fourth quarter valued at approximately $55,000. Handelsinvest Investeringsforvaltning bought a new position in shares of Fox Factory in the fourth quarter valued at approximately $187,000. Finally, D.B. Root & Company LLC bought a new position in shares of Fox Factory in the fourth quarter valued at approximately $206,000.

Fox Factory Trading Up 2.7 %

FOXF stock opened at $40.45 on Friday. The company has a market capitalization of $1.70 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 3.36 and a beta of 1.64. Fox Factory Holding Corp. has a one year low of $38.80 and a one year high of $117.68. The company’s 50 day moving average price is $49.17 and its two-hundred day moving average price is $62.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.34). The business had revenue of $332.50 million for the quarter, compared to analysts’ expectations of $327.07 million. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The company’s revenue was down 18.6% compared to the same quarter last year. During the same period last year, the business posted $1.43 earnings per share. As a group, analysts predict that Fox Factory Holding Corp. will post 2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FOXF. Truist Financial cut their price objective on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Bank of America downgraded shares of Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Friday, February 23rd. StockNews.com downgraded shares of Fox Factory from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, Stifel Nicolaus lowered their target price on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $66.00.

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.