Motley Fool Asset Management LLC Buys 26,776 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Motley Fool Asset Management LLC lifted its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 175.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,064 shares of the company’s stock after purchasing an additional 26,776 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Fox Factory were worth $2,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC grew its holdings in Fox Factory by 173.7% during the 1st quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock worth $9,470,000 after acquiring an additional 115,432 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in Fox Factory by 0.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 126,945 shares of the company’s stock worth $6,610,000 after acquiring an additional 535 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Fox Factory by 10.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,571 shares of the company’s stock worth $1,488,000 after purchasing an additional 2,647 shares during the period. Magnetar Financial LLC acquired a new position in shares of Fox Factory in the 1st quarter worth approximately $291,000. Finally, Boulder Hill Capital Management LP acquired a new position in shares of Fox Factory during the 1st quarter valued at $521,000.

Fox Factory Stock Performance

FOXF traded up $0.81 during trading on Wednesday, hitting $53.39. 438,912 shares of the company traded hands, compared to its average volume of 609,068. The firm has a market cap of $2.22 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 2.23 and a beta of 1.66. The stock’s fifty day moving average is $47.60 and its 200 day moving average is $50.68. The company has a quick ratio of 1.85, a current ratio of 3.43 and a debt-to-equity ratio of 0.63. Fox Factory Holding Corp. has a one year low of $37.98 and a one year high of $117.68.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.10. The company had revenue of $333.50 million during the quarter, compared to analyst estimates of $327.58 million. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, equities analysts predict that Fox Factory Holding Corp. will post 2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Fox Factory from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Bank of America reduced their target price on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Robert W. Baird reduced their target price on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Roth Mkm reduced their target price on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Finally, B. Riley reduced their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Fox Factory has an average rating of “Hold” and an average target price of $47.67.

Insider Activity at Fox Factory

In other Fox Factory news, insider Thomas L. Fletcher sold 2,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the transaction, the insider now owns 11,311 shares in the company, valued at $502,321.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Fox Factory news, insider Thomas L. Fletcher sold 2,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the transaction, the insider now owns 11,311 shares in the company, valued at $502,321.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael C. Dennison bought 11,250 shares of the business’s stock in a transaction on Monday, June 10th. The shares were acquired at an average price of $44.30 per share, with a total value of $498,375.00. Following the transaction, the chief executive officer now directly owns 130,266 shares of the company’s stock, valued at $5,770,783.80. The disclosure for this purchase can be found here. 0.30% of the stock is owned by company insiders.

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.