KLP Kapitalforvaltning AS Takes $230,000 Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

KLP Kapitalforvaltning AS acquired a new stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 7,600 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors have also added to or reduced their stakes in FOXF. Raymond James Financial Inc. bought a new stake in shares of Fox Factory during the fourth quarter valued at about $2,543,000. Disciplined Growth Investors Inc. MN bought a new position in Fox Factory in the 3rd quarter worth about $5,743,000. Caprock Group LLC raised its holdings in shares of Fox Factory by 133.7% in the 4th quarter. Caprock Group LLC now owns 22,396 shares of the company’s stock valued at $678,000 after acquiring an additional 12,813 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Fox Factory by 1,569.2% during the 4th quarter. Mutual of America Capital Management LLC now owns 104,657 shares of the company’s stock valued at $3,168,000 after acquiring an additional 98,387 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Fox Factory by 13.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,745 shares of the company’s stock worth $18,850,000 after purchasing an additional 73,110 shares during the last quarter.

Fox Factory Stock Down 4.2 %

Shares of NASDAQ:FOXF opened at $20.06 on Tuesday. Fox Factory Holding Corp. has a 12-month low of $18.69 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. The stock’s 50-day moving average price is $25.60 and its 200-day moving average price is $30.93. The stock has a market capitalization of $836.74 million, a P/E ratio of 77.16, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $321.31 million. On average, equities analysts anticipate that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FOXF. Robert W. Baird cut their price target on shares of Fox Factory from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday. Jefferies Financial Group reduced their target price on Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, December 11th. Finally, Truist Financial cut their price objective on Fox Factory from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.14.

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.