CenterBook Partners LP Makes New Investment in Fox Factory Holding Corp. $FOXF

CenterBook Partners LP purchased a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 106,336 shares of the company’s stock, valued at approximately $1,819,000. CenterBook Partners LP owned approximately 0.25% of Fox Factory as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. Russell Investments Group Ltd. boosted its holdings in shares of Fox Factory by 12.3% during the second quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock worth $203,000 after purchasing an additional 858 shares during the last quarter. Federated Hermes Inc. acquired a new position in Fox Factory in the third quarter valued at $25,000. Resona Asset Management Co. Ltd. boosted its holdings in Fox Factory by 33.3% in the fourth quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock valued at $73,000 after acquiring an additional 1,035 shares during the last quarter. Creative Planning boosted its holdings in Fox Factory by 11.6% in the third quarter. Creative Planning now owns 9,971 shares of the company’s stock valued at $242,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Fox Factory by 108.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock worth $36,000 after purchasing an additional 1,079 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FOXF. Needham & Company LLC restated a “buy” rating on shares of Fox Factory in a research note on Wednesday, June 3rd. Stifel Nicolaus set a $24.00 price objective on Fox Factory in a research note on Thursday, April 16th. Zacks Research upgraded Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Weiss Ratings cut Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $20.00 target price on shares of Fox Factory in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.33.

Fox Factory Trading Up 2.7%

Shares of NASDAQ FOXF opened at $18.13 on Wednesday. The stock’s 50 day moving average price is $17.14 and its two-hundred day moving average price is $17.42. Fox Factory Holding Corp. has a 52-week low of $13.08 and a 52-week high of $31.18. The stock has a market capitalization of $760.37 million, a P/E ratio of -2.53, a PEG ratio of 0.62 and a beta of 1.37. 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 announced its quarterly earnings data on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.09. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The firm had revenue of $368.66 million for the quarter, compared to analysts’ expectations of $351.76 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Fox Factory’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Fox Factory Holding Corp. will post 1.41 earnings per share for the current fiscal year.

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.