Fox Factory Holding Corp. (NASDAQ:FOXF) Holdings Lifted by Inspire Investing LLC

Inspire Investing LLC raised its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 7.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,318 shares of the company’s stock after purchasing an additional 533 shares during the quarter. Inspire Investing LLC’s holdings in Fox Factory were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FOXF. XTX Topco Ltd acquired a new stake in Fox Factory in the 2nd quarter valued at approximately $375,000. Hsbc Holdings PLC acquired a new position in shares of Fox Factory during the second quarter valued at $268,000. Massachusetts Financial Services Co. MA raised its stake in shares of Fox Factory by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,338 shares of the company’s stock valued at $787,000 after purchasing an additional 549 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Fox Factory by 25.6% in the second quarter. Envestnet Asset Management Inc. now owns 240,795 shares of the company’s stock worth $11,604,000 after purchasing an additional 49,062 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in Fox Factory by 34.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 23,658 shares of the company’s stock valued at $1,140,000 after buying an additional 6,009 shares in the last quarter.

Fox Factory Stock Performance

FOXF opened at $43.01 on Monday. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.79 billion, a PE ratio of 24.03, a P/E/G ratio of 2.48 and a beta of 1.63. The business has a fifty day simple moving average of $42.74 and a 200-day simple moving average of $45.04. Fox Factory Holding Corp. has a fifty-two week low of $34.56 and a fifty-two week high of $100.82.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The firm had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. During the same quarter last year, the business posted $1.21 EPS. Fox Factory’s revenue was down 13.0% on a year-over-year basis. As a group, equities analysts predict that Fox Factory Holding Corp. will post 1.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on FOXF shares. Robert W. Baird reduced their price target on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. B. Riley cut their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Bank of America lowered their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Truist Financial dropped their price objective on Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Fox Factory currently has an average rating of “Hold” and an average price target of $46.17.

Insiders Place Their Bets

In other Fox Factory news, CEO Michael C. Dennison bought 4,800 shares of Fox Factory stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the acquisition, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.