Fox Factory Holding Corp. $FOXF Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 63.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,761 shares of the company’s stock after selling 29,655 shares during the period. New York State Teachers Retirement System’s holdings in Fox Factory were worth $276,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FOXF. Nantahala Capital Management LLC raised its position 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 valued at $37,442,000 after purchasing an additional 1,459,652 shares during the last quarter. Engine Capital Management LP purchased a new stake in Fox Factory during the 4th quarter worth approximately $13,216,000. Towle & Co. acquired a new position in Fox Factory during the 4th quarter valued at approximately $8,967,000. Renaissance Technologies LLC increased its stake in Fox Factory by 294.3% during the 4th quarter. Renaissance Technologies LLC now owns 547,693 shares of the company’s stock valued at $9,371,000 after purchasing an additional 408,800 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Fox Factory by 3,173.3% in 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 buying an additional 376,792 shares during the last quarter.

Fox Factory Stock Performance

NASDAQ FOXF opened at $17.38 on Wednesday. The firm has a market capitalization of $728.92 million, a P/E ratio of -2.42, a PEG ratio of 0.68 and a beta of 1.37. The stock has a 50-day simple moving average of $17.45 and a two-hundred day simple moving average of $17.69. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.52 and a current ratio of 2.99. Fox Factory Holding Corp. has a fifty-two week low of $13.08 and a fifty-two week high of $31.18.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. The firm 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 company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. On average, equities analysts forecast that Fox Factory Holding Corp. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Roth Capital reissued a “neutral” rating and issued a $20.00 target price on shares of Fox Factory in a research report on Friday, May 8th. Bank of America lowered Fox Factory from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $24.00 to $20.00 in a research note on Tuesday, June 30th. Weiss Ratings cut Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Fox Advisors set a $20.00 price target on Fox Factory in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.20.

About Fox Factory

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.