Wells Fargo & Company MN Cuts Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Wells Fargo & Company MN trimmed its position in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 19.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 308,386 shares of the company's stock after selling 73,418 shares during the period. Wells Fargo & Company MN owned about 0.74% of Fox Factory worth $9,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FOXF. KBC Group NV grew its position in Fox Factory by 80.4% during the fourth quarter. KBC Group NV now owns 2,484 shares of the company's stock valued at $75,000 after buying an additional 1,107 shares during the period. Magnetar Financial LLC bought a new position in shares of Fox Factory during the 4th quarter valued at approximately $206,000. Diversify Wealth Management LLC grew its position in shares of Fox Factory by 10.1% during the 4th quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company's stock valued at $207,000 after acquiring an additional 680 shares during the period. KLP Kapitalforvaltning AS bought a new position in Fox Factory during the fourth quarter valued at $230,000. Finally, HighTower Advisors LLC increased its position in Fox Factory by 23.8% in the third quarter. HighTower Advisors LLC now owns 5,880 shares of the company's stock worth $243,000 after buying an additional 1,131 shares during the last quarter.

Analysts Set New Price Targets

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

Fox Factory Price Performance

NASDAQ FOXF traded up $0.74 on Tuesday, hitting $20.33. The stock had a trading volume of 496,437 shares, compared to its average volume of 619,402. The firm has a 50-day moving average of $23.83 and a 200-day moving average of $29.12. The company has a market capitalization of $848.00 million, a price-to-earnings ratio of 78.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. Fox Factory Holding Corp. has a 52-week low of $17.95 and a 52-week high of $54.86.

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