Conestoga Capital Advisors LLC Lowers Stake in Fox Factory Holding Corp. (NASDAQ:FOXF)

Conestoga Capital Advisors LLC lowered its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 5.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,072,554 shares of the company’s stock after selling 59,895 shares during the period. Conestoga Capital Advisors LLC owned approximately 2.58% of Fox Factory worth $44,511,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in FOXF. Vanguard Group Inc. boosted its holdings in shares of Fox Factory by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after acquiring an additional 228,339 shares in the last quarter. Pacer Advisors Inc. grew its stake in Fox Factory by 25,005.1% during the second quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after buying an additional 1,578,822 shares during the period. Clearbridge Investments LLC grew its stake in Fox Factory by 0.6% during the first quarter. Clearbridge Investments LLC now owns 1,230,987 shares of the company’s stock worth $64,097,000 after buying an additional 7,468 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Fox Factory during the second quarter worth $53,294,000. Finally, Van Berkom & Associates Inc. lifted its position in shares of Fox Factory by 1.5% during the second quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock worth $44,019,000 after purchasing an additional 13,936 shares in the last quarter.

Analyst Ratings Changes

FOXF has been the topic of a number of research reports. Bank of America dropped their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. B. Riley reduced their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Robert W. Baird reduced their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Truist Financial reduced their price target on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Insider Buying and Selling

In other news, CEO Michael C. Dennison acquired 4,800 shares of Fox Factory stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $41.44 per share, with a total value of $198,912.00. Following the purchase, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Fox Factory Stock Performance

FOXF stock traded down $4.24 during midday trading on Friday, hitting $31.75. 840,932 shares of the company traded hands, compared to its average volume of 569,525. The business has a 50 day simple moving average of $39.69 and a 200-day simple moving average of $43.36. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 2.52 and a beta of 1.64. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. Fox Factory Holding Corp. has a twelve month low of $31.19 and a twelve month high of $86.14.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The firm had revenue of $359.10 million during the quarter, compared to the consensus estimate of $366.86 million. During the same period last year, the business earned $1.05 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts predict that Fox Factory Holding Corp. will post 1.56 earnings per share for the current year.

Fox Factory 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.