abrdn plc Lowers Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

abrdn plc decreased its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,392 shares of the company’s stock after selling 7,649 shares during the quarter. abrdn plc owned 0.51% of Fox Factory worth $14,602,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Fox Factory by 46.2% in the 3rd quarter. FMR LLC now owns 1,136,720 shares of the company’s stock worth $112,626,000 after buying an additional 359,168 shares during the last quarter. Bamco Inc. NY purchased a new stake in Fox Factory during the third quarter valued at about $27,247,000. Comerica Bank bought a new stake in Fox Factory during the third quarter worth about $10,089,000. Van Berkom & Associates Inc. lifted its stake in Fox Factory by 15.6% during the third quarter. Van Berkom & Associates Inc. now owns 692,538 shares of the company’s stock worth $68,617,000 after purchasing an additional 93,378 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Fox Factory by 38.6% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 174,174 shares of the company’s stock worth $17,257,000 after purchasing an additional 48,495 shares in the last quarter.

Fox Factory Trading Down 1.9 %

FOXF opened at $39.88 on Thursday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 3.42 and a beta of 1.64. Fox Factory Holding Corp. has a one year low of $39.17 and a one year high of $117.68. The business has a 50 day simple moving average of $50.28 and a two-hundred day simple moving average of $62.32. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.70 and a quick ratio of 1.91.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The business had revenue of $332.50 million during the quarter, compared to analysts’ expectations of $327.07 million. During the same period in the previous year, the business earned $1.43 EPS. The business’s revenue was down 18.6% compared to the same quarter last year. Analysts predict that Fox Factory Holding Corp. will post 2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FOXF shares. Stifel Nicolaus decreased their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday. StockNews.com cut shares of Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Truist Financial reduced their price objective on Fox Factory from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, Bank of America lowered Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Fox Factory has an average rating of “Hold” and a consensus target price of $66.00.

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.