Sei Investments Co. Decreases Stock Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Sei Investments Co. lowered its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,483 shares of the company’s stock after selling 3,690 shares during the period. Sei Investments Co. owned about 0.53% of Fox Factory worth $10,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in Fox Factory during the fourth quarter worth about $31,000. YHB Investment Advisors Inc. purchased a new stake in Fox Factory during the first quarter worth about $42,000. TFO Wealth Partners LLC boosted its holdings in Fox Factory by 14,180.0% during the fourth quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock worth $48,000 after buying an additional 709 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Fox Factory by 26.5% in the second quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after purchasing an additional 261 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Fox Factory by 31.8% in the first quarter. Covestor Ltd now owns 1,518 shares of the company’s stock valued at $79,000 after purchasing an additional 366 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Michael C. Dennison purchased 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $41.44 per share, with a total value of $198,912.00. Following the completion of the transaction, the chief executive officer now owns 135,066 shares of the company’s stock, valued at approximately $5,597,135.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Truist Financial reduced their price target on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Bank of America cut their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Robert W. Baird cut their price objective on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, B. Riley cut their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Fox Factory has an average rating of “Hold” and an average price target of $46.17.

Fox Factory Stock Performance

Shares of FOXF stock opened at $41.81 on Friday. Fox Factory Holding Corp. has a one year low of $34.56 and a one year high of $100.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. The company has a 50 day moving average price of $42.01 and a 200 day moving average price of $44.77. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.92 and a beta of 1.63.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The firm had revenue of $348.49 million during the quarter, compared to analyst estimates of $346.22 million. During the same quarter in the prior year, the business posted $1.21 earnings per share. Fox Factory’s revenue for the quarter was down 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Fox Factory Holding Corp. will post 1.56 EPS for the current year.

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.