Fox Factory Holding Corp. (NASDAQ:FOXF) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its stake in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 35.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,172 shares of the company's stock after selling 11,495 shares during the quarter. M&T Bank Corp owned about 0.05% of Fox Factory worth $494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in shares of Fox Factory by 29.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 163,301 shares of the company's stock valued at $3,811,000 after acquiring an additional 36,788 shares during the period. Eukles Asset Management boosted its holdings in Fox Factory by 80.3% in the 1st quarter. Eukles Asset Management now owns 2,265 shares of the company's stock worth $53,000 after buying an additional 1,009 shares during the period. Principal Financial Group Inc. boosted its holdings in Fox Factory by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 231,030 shares of the company's stock worth $5,392,000 after buying an additional 5,863 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Fox Factory by 113.8% during the 1st quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company's stock valued at $46,000 after purchasing an additional 1,038 shares during the last quarter. Finally, Precision Wealth Strategies LLC boosted its holdings in shares of Fox Factory by 6.3% during the 1st quarter. Precision Wealth Strategies LLC now owns 9,321 shares of the company's stock valued at $218,000 after purchasing an additional 549 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Fox Factory from $40.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Truist Financial raised their target price on shares of Fox Factory from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Robert W. Baird lowered their target price on shares of Fox Factory from $32.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Fox Factory has an average rating of "Hold" and an average price target of $36.43.

Fox Factory Stock Performance

NASDAQ:FOXF traded down $0.05 during trading hours on Friday, reaching $25.80. 493,759 shares of the company's stock were exchanged, compared to its average volume of 610,604. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -4.31 and a beta of 1.50. The company has a 50-day moving average of $26.14 and a 200 day moving average of $25.26. The company has a quick ratio of 1.36, a current ratio of 3.18 and a debt-to-equity ratio of 0.73. Fox Factory Holding Corp. has a 1-year low of $17.95 and a 1-year high of $54.86.

Fox Factory (NASDAQ:FOXF - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The firm had revenue of $355.03 million during the quarter, compared to analysts' expectations of $330.71 million. Fox Factory had a negative net margin of 17.64% and a positive return on equity of 4.70%. Fox Factory's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Research analysts anticipate that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

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.