Clearbridge Investments LLC Reduces Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Clearbridge Investments LLC reduced its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 10.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 959,724 shares of the company’s stock after selling 117,129 shares during the period. Clearbridge Investments LLC owned 2.30% of Fox Factory worth $29,051,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Diversify Wealth Management LLC lifted its stake in Fox Factory by 10.1% in the fourth quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company’s stock valued at $207,000 after buying an additional 680 shares during the last quarter. Swiss National Bank boosted its stake in Fox Factory by 0.9% during the 4th quarter. Swiss National Bank now owns 82,000 shares of the company’s stock worth $2,482,000 after purchasing an additional 700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Fox Factory by 7.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,972 shares of the company’s stock worth $455,000 after purchasing an additional 785 shares during the last quarter. KBC Group NV increased its stake in Fox Factory by 80.4% in the fourth quarter. KBC Group NV now owns 2,484 shares of the company’s stock valued at $75,000 after purchasing an additional 1,107 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Fox Factory by 23.8% in the third quarter. HighTower Advisors LLC now owns 5,880 shares of the company’s stock valued at $243,000 after buying an additional 1,131 shares during the last quarter.

Fox Factory Stock Up 0.5 %

Shares of NASDAQ FOXF opened at $23.45 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 3.21 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $26.19 and a 200 day moving average price of $31.47. Fox Factory Holding Corp. has a 52 week low of $22.76 and a 52 week high of $54.86. The stock has a market capitalization of $978.15 million, a price-to-earnings ratio of 90.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.65.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.31 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. Equities research analysts anticipate that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial dropped their price target on Fox Factory from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group cut their price target on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 28th. 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, Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.14.

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.