abrdn plc Sells 7,649 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

abrdn plc cut its position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 3.4% in the fourth quarter, HoldingsChannel reports. The firm owned 216,392 shares of the company’s stock after selling 7,649 shares during the period. abrdn plc’s holdings in Fox Factory were worth $14,602,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC bought a new position in Fox Factory during the 3rd quarter worth about $1,950,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Fox Factory by 3.3% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 6,662 shares of the company’s stock valued at $660,000 after acquiring an additional 213 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Fox Factory by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 440,251 shares of the company’s stock worth $43,620,000 after purchasing an additional 4,607 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fox Factory by 26.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,065 shares of the company’s stock valued at $700,000 after purchasing an additional 1,485 shares in the last quarter. Finally, Strs Ohio grew its stake in Fox Factory by 10.5% in the third quarter. Strs Ohio now owns 4,200 shares of the company’s stock valued at $416,000 after purchasing an additional 400 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FOXF shares. Stifel Nicolaus reduced their price objective on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday. StockNews.com lowered Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Bank of America downgraded Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Friday, February 23rd. Finally, Truist Financial dropped their target price on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $66.00.

Fox Factory Stock Performance

Shares of NASDAQ FOXF opened at $39.88 on Thursday. The company has a 50 day simple moving average of $50.28 and a two-hundred day simple moving average of $62.32. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 3.42 and a beta of 1.64. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61. Fox Factory Holding Corp. has a 12 month low of $39.17 and a 12 month high of $117.68.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). The company had revenue of $332.50 million during the quarter, compared to analysts’ expectations of $327.07 million. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The firm’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 EPS. As a group, analysts predict that Fox Factory Holding Corp. will post 2.42 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.