Raymond James Financial Inc. Purchases New Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Raymond James Financial Inc. purchased a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 84,017 shares of the company’s stock, valued at approximately $2,543,000. Raymond James Financial Inc. owned approximately 0.20% of Fox Factory at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FORA Capital LLC grew its holdings in shares of Fox Factory by 5.9% during the 3rd quarter. FORA Capital LLC now owns 9,117 shares of the company’s stock worth $378,000 after purchasing an additional 507 shares in the last quarter. Diversify Wealth Management LLC grew its stake in Fox Factory by 10.1% during the fourth quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company’s stock worth $207,000 after buying an additional 680 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Fox Factory by 7.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,972 shares of the company’s stock valued at $455,000 after buying an additional 785 shares during the period. KBC Group NV raised its position in shares of Fox Factory by 80.4% in the 4th quarter. KBC Group NV now owns 2,484 shares of the company’s stock valued at $75,000 after buying an additional 1,107 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Fox Factory by 23.8% during the 3rd quarter. HighTower Advisors LLC now owns 5,880 shares of the company’s stock worth $243,000 after acquiring an additional 1,131 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FOXF. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, December 11th. Jefferies Financial Group lowered their price target on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 28th. Robert W. Baird reduced their price objective on Fox Factory from $38.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, Truist Financial lowered their target price on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.14.

Fox Factory Stock Down 5.7 %

Shares of NASDAQ FOXF opened at $24.26 on Friday. The company has a 50 day simple moving average of $26.42 and a 200 day simple moving average of $31.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. Fox Factory Holding Corp. has a 1 year low of $23.80 and a 1 year high of $54.86. The firm has a market cap of $1.01 billion, a PE ratio of 93.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.65.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The firm had revenue of $352.84 million during the quarter, compared to the consensus estimate of $321.31 million. On average, research analysts forecast that Fox Factory Holding Corp. will post 1.31 EPS 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.