The Manufacturers Life Insurance Company Trims Stake in Fox Factory Holding Corp. (NASDAQ:FOXF)

The Manufacturers Life Insurance Company cut its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,762 shares of the company’s stock after selling 2,533 shares during the period. The Manufacturers Life Insurance Company’s holdings in Fox Factory were worth $862,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FOXF. Fifth Third Bancorp boosted its position in shares of Fox Factory by 26.5% in the second quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after purchasing an additional 261 shares during the period. GAMMA Investing LLC lifted its stake in shares of Fox Factory by 86.0% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock valued at $25,000 after buying an additional 277 shares in the last quarter. KBC Group NV boosted its holdings in Fox Factory by 36.5% in the 3rd quarter. KBC Group NV now owns 1,377 shares of the company’s stock worth $57,000 after buying an additional 368 shares during the period. Park Avenue Securities LLC raised 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 valued at $250,000 after acquiring an additional 410 shares during the period. Finally, Inspire Investing LLC lifted its position in shares of Fox Factory by 7.9% in the second quarter. Inspire Investing LLC now owns 7,318 shares of the company’s stock valued at $353,000 after acquiring an additional 533 shares in the last quarter.

Fox Factory Price Performance

FOXF stock opened at $32.15 on Friday. Fox Factory Holding Corp. has a 1 year low of $30.13 and a 1 year high of $70.13. The firm has a market capitalization of $1.34 billion, a PE ratio of 123.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The business has a 50 day simple moving average of $35.17 and a 200-day simple moving average of $41.09.

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

Analysts Set New Price Targets

Several analysts recently issued reports on FOXF shares. Truist Financial decreased their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Roth Mkm reduced their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday. Finally, Bank of America dropped their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Fox Factory has an average rating of “Hold” and an average price target of $40.67.

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.