Principal Financial Group Inc. Sells 4,198 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Principal Financial Group Inc. lessened its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 217,005 shares of the company’s stock after selling 4,198 shares during the period. Principal Financial Group Inc. owned 0.52% of Fox Factory worth $9,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in shares of Fox Factory by 25,005.1% in the second 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 in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Fox Factory during the 2nd quarter worth approximately $53,294,000. Disciplined Growth Investors Inc. MN bought a new position in shares of Fox Factory during the 3rd quarter valued at approximately $5,743,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Fox Factory by 25.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock valued at $32,483,000 after purchasing an additional 135,542 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its position in Fox Factory by 15.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 927,006 shares of the company’s stock worth $38,471,000 after purchasing an additional 127,187 shares during the last quarter.

Fox Factory Price Performance

FOXF opened at $29.87 on Tuesday. 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 business has a fifty day moving average of $32.91 and a 200 day moving average of $39.80. Fox Factory Holding Corp. has a 52-week low of $28.33 and a 52-week high of $70.13. The stock has a market cap of $1.25 billion, a P/E ratio of 114.89, a PEG ratio of 2.67 and a beta of 1.60.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on FOXF. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Robert W. Baird reduced their price objective on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Truist Financial lowered their price objective on Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, December 11th. Finally, Bank of America decreased their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.67.

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.