Fmr LLC Increases Stock Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Fmr LLC grew its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 65.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,674 shares of the company’s stock after purchasing an additional 3,045 shares during the period. Fmr LLC’s holdings in Fox Factory were worth $318,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in Fox Factory by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 549,635 shares of the company’s stock worth $22,810,000 after buying an additional 37,325 shares during the period. Intech Investment Management LLC acquired a new position in shares of Fox Factory in the third quarter worth $541,000. Segall Bryant & Hamill LLC increased its position in shares of Fox Factory by 2.0% during the third quarter. Segall Bryant & Hamill LLC now owns 194,807 shares of the company’s stock worth $8,084,000 after acquiring an additional 3,766 shares during the period. Caprock Group LLC acquired a new stake in shares of Fox Factory in the third quarter valued at $398,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Fox Factory by 89.0% in the third quarter. Thrivent Financial for Lutherans now owns 68,532 shares of the company’s stock valued at $2,844,000 after purchasing an additional 32,263 shares during the period.

Analysts Set New Price Targets

Several brokerages have weighed in on FOXF. Truist Financial cut their price target on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Bank of America cut their target price 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. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, December 11th. Finally, Robert W. Baird reduced their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.67.

Fox Factory Stock Performance

Shares of Fox Factory stock opened at $29.87 on Friday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 114.89, a P/E/G ratio of 2.67 and a beta of 1.60. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. Fox Factory Holding Corp. has a 52 week low of $28.93 and a 52 week high of $70.13. The firm’s 50 day moving average is $34.23 and its two-hundred day moving average is $40.57.

Fox Factory (NASDAQ:FOXF) last announced its quarterly 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 5.23% and a net margin of 0.78%. The company 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 earnings per share. Fox Factory’s revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

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.