Principal Financial Group Inc. Sells 57,122 Shares of Fox Factory Holding Corp. $FOXF

Principal Financial Group Inc. decreased its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 21.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,515 shares of the company’s stock after selling 57,122 shares during the quarter. Principal Financial Group Inc.’s holdings in Fox Factory were worth $3,350,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nantahala Capital Management LLC increased its holdings in shares of Fox Factory by 200.3% in the 4th quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock worth $37,442,000 after buying an additional 1,459,652 shares during the last quarter. Engine Capital Management LP bought a new position in shares of Fox Factory in the 4th quarter valued at about $13,216,000. Towle & Co. purchased a new position in Fox Factory in the fourth quarter worth about $8,967,000. Renaissance Technologies LLC grew its position in Fox Factory by 294.3% in the fourth quarter. Renaissance Technologies LLC now owns 547,693 shares of the company’s stock worth $9,371,000 after acquiring an additional 408,800 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Fox Factory by 3,173.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 388,666 shares of the company’s stock worth $6,650,000 after acquiring an additional 376,792 shares during the last quarter.

Fox Factory Trading Down 0.8%

Shares of NASDAQ FOXF opened at $18.94 on Thursday. Fox Factory Holding Corp. has a twelve month low of $13.08 and a twelve month high of $31.18. The firm has a market cap of $794.34 million, a PE ratio of -2.64, a price-to-earnings-growth ratio of 0.74 and a beta of 1.37. The business has a fifty day simple moving average of $17.82 and a two-hundred day simple moving average of $17.76. The company has a quick ratio of 1.52, a current ratio of 2.99 and a debt-to-equity ratio of 1.00.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. The business had revenue of $368.66 million for the quarter, compared to the consensus estimate of $351.75 million. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. Analysts expect that Fox Factory Holding Corp. will post 1.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FOXF shares. Bank of America downgraded Fox Factory from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $24.00 to $20.00 in a research report on Tuesday, June 30th. Weiss Ratings cut Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Stifel Nicolaus set a $24.00 target price on Fox Factory in a research report on Thursday, April 16th. Needham & Company LLC restated a “buy” rating on shares of Fox Factory in a report on Wednesday, June 3rd. Finally, Fox Advisors set a $20.00 price target on Fox Factory in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $23.20.

Fox Factory Company 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.