ExodusPoint Capital Management LP Makes New Investment in Fox Factory Holding Corp. (NASDAQ:FOXF)

ExodusPoint Capital Management LP acquired a new position in Fox Factory Holding Corp. (NASDAQ:FOXF) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 48,520 shares of the company’s stock, valued at approximately $1,469,000. ExodusPoint Capital Management LP owned approximately 0.12% of Fox Factory as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. KBC Group NV raised its position in shares of Fox Factory by 80.4% in the 4th quarter. KBC Group NV now owns 2,484 shares of the company’s stock valued at $75,000 after buying an additional 1,107 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Fox Factory in the 4th quarter valued at approximately $206,000. Diversify Wealth Management LLC raised its position in shares of Fox Factory by 10.1% in the 4th quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company’s stock valued at $207,000 after buying an additional 680 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Fox Factory in the 4th quarter valued at approximately $230,000. Finally, HighTower Advisors LLC raised its position in shares of Fox Factory by 23.8% in the 3rd quarter. HighTower Advisors LLC now owns 5,880 shares of the company’s stock valued at $243,000 after buying an additional 1,131 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently issued reports on FOXF. Stifel Nicolaus upgraded 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 report on Wednesday, December 11th. Jefferies Financial Group reduced their target price on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Truist Financial reduced their target price on shares of Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Robert W. Baird reduced their target price on shares of Fox Factory from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.14.

Fox Factory Price Performance

Shares of NASDAQ:FOXF opened at $21.97 on Thursday. The company has a 50 day moving average of $24.97 and a 200 day moving average of $30.47. The stock has a market cap of $916.41 million, a P/E ratio of 84.50, a P/E/G ratio of 1.45 and a beta of 1.56. Fox Factory Holding Corp. has a 12 month low of $17.95 and a 12 month high of $54.86. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62.

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

Fox Factory Company Profile

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.