Truist Financial Corp Has $952,000 Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Truist Financial Corp raised its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 95.2% in the 2nd quarter, Holdings Channel reports. The firm owned 19,753 shares of the company’s stock after purchasing an additional 9,632 shares during the quarter. Truist Financial Corp’s holdings in Fox Factory were worth $952,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Norden Group LLC raised its holdings in shares of Fox Factory by 3,378.1% during the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after purchasing an additional 278,185 shares during the period. Sei Investments Co. increased its position in Fox Factory by 6.9% in the first quarter. Sei Investments Co. now owns 223,173 shares of the company’s stock worth $11,621,000 after buying an additional 14,328 shares during the last quarter. Vanguard Group Inc. raised its stake in Fox Factory by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock valued at $286,279,000 after acquiring an additional 46,132 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of Fox Factory in the second quarter worth about $626,000. Finally, SG Americas Securities LLC bought a new stake in shares of Fox Factory in the first quarter valued at approximately $612,000.

Analysts Set New Price Targets

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

Insider Activity at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison purchased 4,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now directly owns 135,066 shares in the company, valued at approximately $5,597,135.04. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

Fox Factory Trading Up 3.1 %

Shares of FOXF stock opened at $40.28 on Monday. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.68 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 2.67 and a beta of 1.64. The business has a 50-day moving average price of $40.14 and a two-hundred day moving average price of $44.13. Fox Factory Holding Corp. has a 12-month low of $34.56 and a 12-month high of $96.06.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The business 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 firm earned $1.21 earnings per share. Fox Factory’s revenue for the quarter was down 13.0% on a year-over-year basis. Equities analysts anticipate that Fox Factory Holding Corp. will post 1.56 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.