Kayne Anderson Rudnick Investment Management LLC Sells 1,698,245 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Kayne Anderson Rudnick Investment Management LLC reduced its stake in Fox Factory Holding Corp. (NASDAQ:FOXF) by 48.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,801,909 shares of the company’s stock after selling 1,698,245 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Fox Factory were worth $54,544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. KBC Group NV boosted its holdings in Fox Factory by 80.4% in the fourth quarter. KBC Group NV now owns 2,484 shares of the company’s stock worth $75,000 after acquiring an additional 1,107 shares in the last quarter. HighTower Advisors LLC grew its position in Fox Factory by 23.8% during the 3rd quarter. HighTower Advisors LLC now owns 5,880 shares of the company’s stock valued at $243,000 after purchasing an additional 1,131 shares during the last quarter. Aristides Capital LLC bought a new stake in Fox Factory during the 4th quarter valued at about $206,000. Magnetar Financial LLC bought a new position in shares of Fox Factory in the fourth quarter worth approximately $206,000. Finally, Diversify Wealth Management LLC grew its holdings in shares of Fox Factory by 10.1% during the fourth 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 during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 28th. Truist Financial decreased their price target on Fox Factory from $40.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Robert W. Baird dropped their price objective on Fox Factory from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, April 4th. Finally, Stifel Nicolaus decreased their target price on Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.00.

Fox Factory Stock Up 2.1 %

Fox Factory stock opened at $19.66 on Monday. Fox Factory Holding Corp. has a one year low of $17.95 and a one year high of $54.86. The stock has a fifty day moving average of $24.05 and a 200 day moving average of $29.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The stock has a market cap of $820.06 million, a PE ratio of 75.62, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm 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 predict that Fox Factory Holding Corp. will post 1.31 EPS 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.