Synovus Financial Corp purchased a new stake in shares of Fox Factory Holding Corp (NASDAQ:FOXF) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,073 shares of the company’s stock, valued at approximately $313,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC boosted its position in shares of Fox Factory by 914.4% during the third quarter. Squar Milner Financial Services LLC now owns 913 shares of the company’s stock valued at $56,000 after purchasing an additional 823 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Fox Factory during the second quarter valued at approximately $60,000. Convergence Investment Partners LLC bought a new stake in shares of Fox Factory during the second quarter valued at approximately $145,000. Cim LLC bought a new stake in shares of Fox Factory during the second quarter valued at approximately $217,000. Finally, Marco Investment Management LLC purchased a new position in Fox Factory during the second quarter valued at $219,000. Institutional investors own 99.97% of the company’s stock.
In other Fox Factory news, CFO Zvi Glasman sold 13,583 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.93, for a total transaction of $990,608.19. Following the completion of the sale, the chief financial officer now owns 20,284 shares of the company’s stock, valued at $1,479,312.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Tutton sold 461 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $75.01, for a total value of $34,579.61. Following the sale, the insider now directly owns 22,604 shares of the company’s stock, valued at approximately $1,695,526.04. The disclosure for this sale can be found here. Insiders have sold 140,245 shares of company stock valued at $9,391,635 in the last three months. 2.30% of the stock is currently owned by corporate insiders.
Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.04. Fox Factory had a return on equity of 29.00% and a net margin of 12.56%. The business had revenue of $211.32 million during the quarter, compared to analyst estimates of $205.90 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. Fox Factory’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities analysts anticipate that Fox Factory Holding Corp will post 2.68 EPS for the current year.
A number of research analysts have issued reports on FOXF shares. Bank of America reiterated a “neutral” rating and set a $86.00 price objective (up previously from $78.00) on shares of Fox Factory in a research note on Thursday, August 1st. SunTrust Banks lifted their price objective on Fox Factory to $68.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Zacks Investment Research cut Fox Factory from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. BidaskClub upgraded Fox Factory from a “strong sell” rating to a “sell” rating in a research note on Friday. Finally, Stifel Nicolaus lifted their price objective on Fox Factory from $72.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $74.50.
Fox Factory Company Profile
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
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