PNC Financial Services Group Inc. Sells 2,651 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

PNC Financial Services Group Inc. lowered its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 36.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,610 shares of the company’s stock after selling 2,651 shares during the period. PNC Financial Services Group Inc.’s holdings in Fox Factory were worth $140,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FORA Capital LLC grew its position in Fox Factory by 5.9% during the 3rd quarter. FORA Capital LLC now owns 9,117 shares of the company’s stock valued at $378,000 after purchasing an additional 507 shares during the last quarter. Diversify Wealth Management LLC increased its position in shares of Fox Factory by 10.1% during the fourth quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company’s stock valued at $207,000 after acquiring an additional 680 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Fox Factory by 1.8% during the third quarter. Victory Capital Management Inc. now owns 42,891 shares of the company’s stock valued at $1,780,000 after acquiring an additional 772 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Fox Factory by 7.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,972 shares of the company’s stock worth $455,000 after acquiring an additional 785 shares during the last quarter. Finally, KBC Group NV lifted its position in Fox Factory by 80.4% in the 4th quarter. KBC Group NV now owns 2,484 shares of the company’s stock valued at $75,000 after acquiring an additional 1,107 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FOXF shares. Truist Financial lowered their price target on Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, December 11th. Robert W. Baird lowered their price objective on shares of Fox Factory from $38.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Finally, Jefferies Financial Group cut their target price on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.14.

Fox Factory Stock Up 3.0 %

Shares of FOXF stock opened at $25.78 on Tuesday. The company has a 50 day simple moving average of $26.64 and a two-hundred day simple moving average of $32.00. The stock has a market cap of $1.07 billion, a P/E ratio of 99.16, a P/E/G ratio of 1.45 and a beta of 1.65. Fox Factory Holding Corp. has a 12 month low of $23.91 and a 12 month high of $54.86. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business had revenue of $352.84 million during the quarter, compared to analyst estimates of $321.31 million. On average, research analysts expect that Fox Factory Holding Corp. will post 1.31 earnings per share for the current 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.