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

Retirement Systems of Alabama lessened its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 56.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 53,081 shares of the company’s stock after selling 70,020 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of Fox Factory worth $3,582,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Zions Bancorporation N.A. boosted its position in shares of Fox Factory by 8.6% in the third quarter. Zions Bancorporation N.A. now owns 12,542 shares of the company’s stock valued at $1,243,000 after acquiring an additional 991 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Fox Factory by 0.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock valued at $364,229,000 after purchasing an additional 33,703 shares during the period. CVA Family Office LLC acquired a new stake in Fox Factory in the 4th quarter worth $55,000. VELA Investment Management LLC increased its holdings in shares of Fox Factory by 56.6% during the 4th quarter. VELA Investment Management LLC now owns 18,302 shares of the company’s stock worth $1,235,000 after purchasing an additional 6,613 shares during the period. Finally, Brookstone Capital Management raised its position in shares of Fox Factory by 29.6% during the fourth quarter. Brookstone Capital Management now owns 6,437 shares of the company’s stock valued at $434,000 after buying an additional 1,472 shares during the last quarter.

Fox Factory Stock Performance

Shares of NASDAQ:FOXF opened at $43.70 on Wednesday. The firm’s 50 day simple moving average is $46.22 and its 200 day simple moving average is $58.70. Fox Factory Holding Corp. has a fifty-two week low of $37.98 and a fifty-two week high of $117.68. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 3.66 and a beta of 1.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.43 and a quick ratio of 1.85.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, beating 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 business had revenue of $333.50 million during the quarter, compared to analysts’ expectations of $327.58 million. During the same quarter in the prior year, the company earned $1.20 EPS. The firm’s quarterly revenue was down 16.6% on a year-over-year basis. As a group, sell-side analysts forecast that Fox Factory Holding Corp. will post 2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FOXF shares. Robert W. Baird lowered their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. B. Riley lowered their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Stifel Nicolaus dropped their price objective on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Bank of America decreased their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Truist Financial lowered their target price on Fox Factory from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. One research 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 data from MarketBeat, Fox Factory currently 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.