Assenagon Asset Management S.A. Has $7.49 Million Stock Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Assenagon Asset Management S.A. increased its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 595.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,435 shares of the company’s stock after buying an additional 211,864 shares during the period. Assenagon Asset Management S.A. owned 0.59% of Fox Factory worth $7,490,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Fox Factory by 271.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company’s stock worth $7,921,000 after buying an additional 139,512 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of Fox Factory by 20.3% during the third quarter. Synovus Financial Corp now owns 23,306 shares of the company’s stock valued at $967,000 after acquiring an additional 3,934 shares during the period. Geode Capital Management LLC boosted its holdings in Fox Factory by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,002,109 shares of the company’s stock valued at $41,595,000 after acquiring an additional 8,474 shares during the last quarter. Disciplined Growth Investors Inc. MN acquired a new stake in Fox Factory in the third quarter worth about $5,743,000. Finally, M&T Bank Corp raised its holdings in Fox Factory by 70.4% during the 3rd quarter. M&T Bank Corp now owns 36,795 shares of the company’s stock worth $1,528,000 after purchasing an additional 15,201 shares during the last quarter.

Wall Street Analyst Weigh In

FOXF has been the topic of several recent research reports. 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 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 note on Wednesday, December 11th. Roth Mkm dropped their target price 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. Robert W. Baird reduced their price target on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Truist Financial dropped their price objective on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Fox Factory has a consensus rating of “Hold” and an average target price of $40.33.

Fox Factory Price Performance

Shares of FOXF stock opened at $28.62 on Monday. 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 12-month low of $26.76 and a 12-month high of $69.46. The firm has a fifty day moving average of $30.76 and a 200-day moving average of $37.75. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 110.08, a price-to-earnings-growth ratio of 1.53 and a beta of 1.60.

Fox Factory (NASDAQ:FOXF) last posted its 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 net margin of 0.78% and a return on equity of 5.23%. The business had revenue of $359.10 million during the quarter, compared to analyst estimates of $366.86 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Fox Factory Holding Corp. will post 1.31 earnings per share 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.