Whittier Trust Co. Sells 1,914 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Whittier Trust Co. decreased its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 64.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,053 shares of the company’s stock after selling 1,914 shares during the quarter. Whittier Trust Co.’s holdings in Fox Factory were worth $51,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of FOXF. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in Fox Factory in the second quarter worth $145,000. Louisiana State Employees Retirement System grew its holdings in shares of Fox Factory by 71.3% in the second quarter. Louisiana State Employees Retirement System now owns 20,900 shares of the company’s stock valued at $1,007,000 after purchasing an additional 8,700 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Fox Factory by 26.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after buying an additional 261 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Fox Factory by 37.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,318 shares of the company’s stock valued at $112,000 after purchasing an additional 635 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Fox Factory in the 2nd quarter worth about $222,000.

Fox Factory Stock Performance

NASDAQ FOXF opened at $40.67 on Friday. The firm has a market capitalization of $1.69 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.10 and a beta of 1.66. Fox Factory Holding Corp. has a 1-year low of $37.48 and a 1-year high of $112.85. 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 business’s 50-day simple moving average is $45.48 and its 200-day simple moving average is $47.33.

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

Insider Activity

In related news, insider Thomas L. Fletcher sold 2,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $44.41, for a total transaction of $88,820.00. Following the transaction, the insider now directly owns 11,311 shares of the company’s stock, valued at $502,321.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Thomas L. Fletcher sold 2,000 shares of Fox Factory stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $44.41, for a total transaction of $88,820.00. Following the sale, the insider now owns 11,311 shares of the company’s stock, valued at approximately $502,321.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael C. Dennison bought 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought 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 directly owns 135,066 shares in the company, valued at $5,597,135.04. The disclosure for this purchase can be found here. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

FOXF has been the topic of a number of analyst reports. Robert W. Baird cut their price objective on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Bank of America cut their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Truist Financial dropped their target price 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. Roth Mkm dropped their target price on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, B. Riley lowered their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” 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 issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $47.00.

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.