PNC Financial Services Group Inc. Has $250,000 Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

PNC Financial Services Group Inc. lessened its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 28.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,698 shares of the company’s stock after selling 1,465 shares during the period. PNC Financial Services Group Inc.’s holdings in Fox Factory were worth $250,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Fox Factory by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock valued at $286,279,000 after acquiring an additional 46,132 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of Fox Factory by 0.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,134,439 shares of the company’s stock valued at $76,552,000 after buying an additional 3,935 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fox Factory by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 821,862 shares of the company’s stock valued at $55,461,000 after buying an additional 12,474 shares in the last quarter. Norges Bank bought a new position in shares of Fox Factory in the fourth quarter valued at $31,429,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Fox Factory by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 421,003 shares of the company’s stock valued at $28,409,000 after buying an additional 16,542 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird dropped their price objective on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Bank of America dropped their price objective on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Roth Mkm dropped their price objective on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. B. Riley dropped their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, Truist Financial raised their price target on shares of Fox Factory from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. 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. Based on data from MarketBeat.com, Fox Factory presently has an average rating of “Hold” and a consensus target price of $47.67.

Fox Factory Stock Down 1.5 %

FOXF opened at $47.48 on Tuesday. 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 company’s 50-day moving average is $45.55 and its 200 day moving average is $53.37. Fox Factory Holding Corp. has a fifty-two week low of $37.98 and a fifty-two week high of $117.68. The firm has a market capitalization of $1.98 billion, a P/E ratio of 26.53, a PEG ratio of 2.05 and a beta of 1.66.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. The business had revenue of $333.50 million for the quarter, compared to analyst estimates of $327.58 million. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Research analysts expect that Fox Factory Holding Corp. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fox Factory news, insider Thomas L. Fletcher sold 2,000 shares of Fox Factory stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total value of $88,820.00. Following the sale, the insider now owns 11,311 shares of the company’s stock, valued at $502,321.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Thomas L. Fletcher sold 2,000 shares of Fox Factory stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total value of $88,820.00. Following the completion of the transaction, the insider now owns 11,311 shares in the company, valued at $502,321.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael C. Dennison bought 11,250 shares of Fox Factory stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $44.30 per share, with a total value of $498,375.00. Following the purchase, the chief executive officer now directly owns 130,266 shares of the company’s stock, valued at $5,770,783.80. The disclosure for this purchase can be found here. Insiders own 0.30% of the company’s stock.

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.