Intech Investment Management LLC Takes Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Intech Investment Management LLC bought a new stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,028 shares of the company’s stock, valued at approximately $541,000.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in shares of Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after purchasing an additional 261 shares during the last quarter. GAMMA Investing LLC raised its position in Fox Factory by 86.0% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after buying an additional 277 shares during the last quarter. KBC Group NV lifted its stake in Fox Factory by 36.5% during the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock valued at $57,000 after acquiring an additional 368 shares during the period. Park Avenue Securities LLC grew its holdings in Fox Factory by 7.3% during the third quarter. Park Avenue Securities LLC now owns 6,023 shares of the company’s stock worth $250,000 after acquiring an additional 410 shares during the period. Finally, Inspire Investing LLC grew its holdings in Fox Factory by 7.9% during the second quarter. Inspire Investing LLC now owns 7,318 shares of the company’s stock worth $353,000 after acquiring an additional 533 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Robert W. Baird dropped their price objective on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. StockNews.com raised Fox Factory from a “sell” rating to a “hold” rating in a research report on Thursday. Bank of America cut their price target on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Truist Financial lowered their price target on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Roth Mkm decreased their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Fox Factory presently has an average rating of “Hold” and a consensus price target of $41.50.

Fox Factory Price Performance

Fox Factory stock opened at $32.48 on Monday. Fox Factory Holding Corp. has a 52-week low of $30.92 and a 52-week high of $70.13. The firm has a market capitalization of $1.35 billion, a P/E ratio of 124.93, a PEG ratio of 2.65 and a beta of 1.65. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $36.92 and a 200-day moving average of $41.96.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $359.10 million during the quarter, compared to analyst estimates of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.05 earnings per share. As a group, analysts predict that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

About Fox Factory

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.