Envestnet Asset Management Inc. Has $11.60 Million Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Envestnet Asset Management Inc. increased its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 25.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,795 shares of the company’s stock after buying an additional 49,062 shares during the period. Envestnet Asset Management Inc.’s holdings in Fox Factory were worth $11,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in FOXF. Vanguard Group Inc. increased its stake in shares of Fox Factory by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Fox Factory by 0.6% during the first quarter. Clearbridge Investments LLC now owns 1,230,987 shares of the company’s stock worth $64,097,000 after purchasing an additional 7,468 shares during the period. William Blair Investment Management LLC bought a new position in Fox Factory during the 2nd quarter worth $53,294,000. Van Berkom & Associates Inc. increased its position in shares of Fox Factory by 1.5% during the second quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock worth $44,019,000 after buying an additional 13,936 shares during the period. Finally, Norges Bank bought a new position in shares of Fox Factory during the 4th quarter worth approximately $31,429,000.

Insider Activity at Fox Factory

In other news, CEO Michael C. Dennison purchased 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now owns 135,066 shares in the company, valued at $5,597,135.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FOXF has been the subject of several recent research reports. Robert W. Baird decreased their price objective on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Truist Financial dropped their price objective on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Bank of America cut their price target on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, B. Riley cut their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Fox Factory presently has an average rating of “Hold” and an average price target of $46.17.

Fox Factory Price Performance

FOXF opened at $41.44 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. The company’s 50-day simple moving average is $42.29 and its two-hundred day simple moving average is $44.90. Fox Factory Holding Corp. has a 52-week low of $34.56 and a 52-week high of $100.82. The stock has a market capitalization of $1.72 billion, a P/E ratio of 23.15, a P/E/G ratio of 2.92 and a beta of 1.63.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The firm had revenue of $348.49 million during the quarter, compared to analyst estimates of $346.22 million. During the same quarter in the prior year, the business earned $1.21 earnings per share. Fox Factory’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, analysts predict that Fox Factory Holding Corp. will post 1.56 EPS for the current year.

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.