D.B. Root & Company LLC Makes New $234,000 Investment in Fox Factory Holding Corp. (NASDAQ:FOXF)

D.B. Root & Company LLC acquired a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,861 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently bought and sold shares of FOXF. Norges Bank acquired a new stake in shares of Fox Factory during the 4th quarter valued at about $31,429,000. Norden Group LLC lifted its holdings in shares of Fox Factory by 3,378.1% during the 1st quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after buying an additional 278,185 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Fox Factory by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after buying an additional 228,339 shares during the last quarter. RWWM Inc. acquired a new stake in shares of Fox Factory during the 4th quarter valued at about $7,969,000. Finally, Jane Street Group LLC raised its stake in shares of Fox Factory by 173.7% in the 1st quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock valued at $9,470,000 after acquiring an additional 115,432 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FOXF. Roth Mkm cut their price objective on Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Robert W. Baird cut their price objective on Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus cut their price objective on Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Bank of America cut their price objective on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Truist Financial dropped their price target on Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.00.

Fox Factory Price Performance

Shares of FOXF stock opened at $39.59 on Tuesday. The stock’s fifty day simple moving average is $47.12 and its 200 day simple moving average is $49.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.43 and a quick ratio of 1.85. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 2.10 and a beta of 1.66. Fox Factory Holding Corp. has a one year low of $37.48 and a one year high of $113.43.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $348.49 million for the quarter, compared to analyst estimates of $346.22 million. Fox Factory had a return on equity of 7.62% and a net margin of 3.07%. Fox Factory’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 EPS. On average, analysts expect that Fox Factory Holding Corp. will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison acquired 11,250 shares of Fox Factory stock in a transaction on Monday, June 10th. The shares were bought at an average price of $44.30 per share, with a total value of $498,375.00. Following the completion of the purchase, the chief executive officer now owns 130,266 shares in the company, valued at $5,770,783.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Michael C. Dennison bought 11,250 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was bought at an average price of $44.30 per share, for a total transaction of $498,375.00. Following the completion of the transaction, the chief executive officer now directly owns 130,266 shares in the company, valued at approximately $5,770,783.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael C. Dennison bought 4,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $41.44 per share, with a total value of $198,912.00. Following the transaction, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The disclosure for this purchase can be found here. 0.30% of the stock is owned by insiders.

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.