Envestnet Portfolio Solutions Inc. Takes $222,000 Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Envestnet Portfolio Solutions Inc. bought a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 4,614 shares of the company’s stock, valued at approximately $222,000.

Several other hedge funds have also added to or reduced their stakes in the business. CWM LLC grew its position in shares of Fox Factory by 54.1% in the 4th quarter. CWM LLC now owns 624 shares of the company’s stock valued at $42,000 after buying an additional 219 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Fox Factory by 15.7% in the fourth quarter. Benjamin Edwards Inc. now owns 2,074 shares of the company’s stock valued at $140,000 after acquiring an additional 282 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Fox Factory by 2.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the company’s stock valued at $635,000 after purchasing an additional 300 shares during the period. M&T Bank Corp raised its holdings in Fox Factory by 1.9% during the 4th quarter. M&T Bank Corp now owns 17,646 shares of the company’s stock worth $1,191,000 after purchasing an additional 329 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Fox Factory by 31.8% in the 1st quarter. Covestor Ltd now owns 1,518 shares of the company’s stock valued at $79,000 after purchasing an additional 366 shares during the last quarter.

Fox Factory Stock Up 3.8 %

Shares of NASDAQ:FOXF opened at $41.21 on Friday. The firm has a market cap of $1.71 billion, a P/E ratio of 23.02, a PEG ratio of 2.10 and a beta of 1.66. Fox Factory Holding Corp. has a 52-week low of $37.48 and a 52-week high of $112.85. The business’s 50 day simple moving average is $46.17 and its two-hundred day simple moving average is $48.01. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FOXF shares. B. Riley lowered their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Roth Mkm dropped 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 decreased their target price 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. Bank of America dropped their price target 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 reduced their price objective on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One investment 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.00.

Insider Transactions at Fox Factory

In related 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 price of $41.44 per share, for a total transaction of $198,912.00. Following the purchase, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Thomas L. Fletcher sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the sale, the insider now owns 11,311 shares in the company, valued at $502,321.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael C. Dennison bought 4,800 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the purchase, 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 currently owned by insiders.

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.