Daiwa Securities Group Inc. Cuts Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Daiwa Securities Group Inc. cut its stake in Fox Factory Holding Corp. (NASDAQ:FOXF) by 57.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,567 shares of the company’s stock after selling 29,380 shares during the period. Daiwa Securities Group Inc. owned about 0.05% of Fox Factory worth $653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FOXF. KBC Group NV lifted its stake in Fox Factory by 36.5% in the third quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after purchasing an additional 368 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in Fox Factory by 10.1% in the fourth quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company’s stock worth $207,000 after purchasing an additional 680 shares during the last quarter. HighTower Advisors LLC lifted its stake in Fox Factory by 23.8% in the third quarter. HighTower Advisors LLC now owns 5,880 shares of the company’s stock worth $243,000 after purchasing an additional 1,131 shares during the last quarter. Inceptionr LLC bought a new stake in Fox Factory in the fourth quarter worth $249,000. Finally, D.B. Root & Company LLC lifted its stake in Fox Factory by 45.2% in the fourth quarter. D.B. Root & Company LLC now owns 8,801 shares of the company’s stock worth $266,000 after purchasing an additional 2,741 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on FOXF shares. Jefferies Financial Group lowered their price target on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Robert W. Baird lowered their price objective on shares of Fox Factory from $38.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Truist Financial lowered their price objective on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, December 11th. Finally, StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.14.

Fox Factory Price Performance

FOXF stock opened at $24.80 on Friday. Fox Factory Holding Corp. has a 1 year low of $23.91 and a 1 year high of $54.86. The company has a market cap of $1.03 billion, a P/E ratio of 95.39, a PEG ratio of 1.45 and a beta of 1.65. The firm has a 50-day moving average of $27.08 and a 200 day moving average of $32.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The company had revenue of $352.84 million during the quarter, compared to the consensus estimate of $321.31 million. On average, sell-side analysts forecast that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

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.