Geode Capital Management LLC Boosts Stake in Fox Factory Holding Corp. (NASDAQ:FOXF)

Geode Capital Management LLC grew its stake in Fox Factory Holding Corp. (NASDAQ:FOXF) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,002,109 shares of the company’s stock after acquiring an additional 8,474 shares during the quarter. Geode Capital Management LLC owned about 2.40% of Fox Factory worth $41,595,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Fox Factory by 0.4% in the third quarter. State Street Corp now owns 1,596,222 shares of the company’s stock valued at $66,243,000 after purchasing an additional 6,308 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Fox Factory by 25,005.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock worth $76,388,000 after buying an additional 1,578,822 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Fox Factory during the second quarter valued at approximately $53,294,000. ArrowMark Colorado Holdings LLC lifted its position in Fox Factory by 15.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock valued at $38,471,000 after acquiring an additional 127,187 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in Fox Factory by 1.5% in the second quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock valued at $44,019,000 after acquiring an additional 13,936 shares in the last quarter.

Analyst Upgrades and Downgrades

FOXF has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Bank of America decreased their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Robert W. Baird cut 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. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, 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 research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.67.

Fox Factory Price Performance

Shares of NASDAQ FOXF opened at $29.17 on Wednesday. Fox Factory Holding Corp. has a 52 week low of $28.75 and a 52 week high of $70.13. 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 market cap of $1.22 billion, a P/E ratio of 112.20, a P/E/G ratio of 2.67 and a beta of 1.60. The business’s 50 day moving average price is $33.60 and its 200 day moving average price is $40.14.

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