GW&K Investment Management LLC Cuts Stake in Fox Factory Holding Corp. $FOXF

GW&K Investment Management LLC cut its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 65.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,754 shares of the company’s stock after selling 55,501 shares during the quarter. GW&K Investment Management LLC owned approximately 0.07% of Fox Factory worth $723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Bank & Trust grew its holdings in Fox Factory by 8.1% in the third quarter. First Bank & Trust now owns 8,345 shares of the company’s stock worth $203,000 after purchasing an additional 623 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of Fox Factory by 9.2% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 8,300 shares of the company’s stock valued at $202,000 after purchasing an additional 700 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Fox Factory by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 111,190 shares of the company’s stock valued at $2,884,000 after purchasing an additional 705 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Fox Factory by 7.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,709 shares of the company’s stock worth $278,000 after purchasing an additional 734 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Fox Factory by 12.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock worth $203,000 after purchasing an additional 858 shares in the last quarter.

Fox Factory Price Performance

Shares of FOXF opened at $16.31 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.86 and a quick ratio of 1.37. The company’s fifty day moving average price is $18.61 and its 200-day moving average price is $20.69. Fox Factory Holding Corp. has a 1-year low of $13.08 and a 1-year high of $31.18. The firm has a market capitalization of $681.77 million, a PE ratio of -1.25 and a beta of 1.50.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, February 26th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $361.07 million during the quarter, compared to analyst estimates of $353.88 million. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. On average, equities research analysts predict that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zacks Research raised Fox Factory from a “strong sell” rating to a “hold” rating in a research report on Thursday. Roth Mkm lowered their price target on Fox Factory from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. Finally, CJS Securities upgraded shares of Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.60.

Fox Factory Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.