Fox Factory Holding Corp. (NASDAQ:FOXF) Stake Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 6,413.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,352,242 shares of the company's stock after purchasing an additional 1,331,480 shares during the period. The Manufacturers Life Insurance Company owned about 3.24% of Fox Factory worth $40,932,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FOXF. Quarry LP purchased a new position in Fox Factory in the 4th quarter valued at about $45,000. KBC Group NV increased its holdings in Fox Factory by 80.4% during the 4th quarter. KBC Group NV now owns 2,484 shares of the company's stock worth $75,000 after purchasing an additional 1,107 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Fox Factory in the 4th quarter valued at approximately $143,000. Magnetar Financial LLC purchased a new position in shares of Fox Factory during the 4th quarter valued at approximately $206,000. Finally, Aristides Capital LLC acquired a new stake in shares of Fox Factory during the fourth quarter worth approximately $206,000.

Wall Street Analyst Weigh In

A number of research firms have commented on FOXF. Truist Financial reduced their price objective on shares of Fox Factory from $40.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group cut their price objective on Fox Factory from $45.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Robert W. Baird decreased their target price on Fox Factory from $32.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Finally, Stifel Nicolaus reduced their price objective on Fox Factory from $40.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $35.00.

Fox Factory Stock Performance

NASDAQ:FOXF traded down $0.42 during midday trading on Tuesday, reaching $20.61. 103,429 shares of the company traded hands, compared to its average volume of 604,910. Fox Factory Holding Corp. has a twelve month low of $17.95 and a twelve month high of $54.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The company has a fifty day moving average price of $22.86 and a 200 day moving average price of $27.83. The firm has a market capitalization of $859.52 million, a price-to-earnings ratio of 79.48, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The business had revenue of $352.84 million for the quarter, compared to analysts' expectations of $321.31 million. On average, analysts expect that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

About Fox Factory

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.