Envestnet Asset Management Inc. Has $3.83 Million Stock Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Envestnet Asset Management Inc. cut its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 51.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,513 shares of the company’s stock after selling 134,540 shares during the period. Envestnet Asset Management Inc. owned 0.30% of Fox Factory worth $3,830,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV raised its stake in shares of 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 acquiring an additional 1,107 shares during the last quarter. Magnetar Financial LLC acquired a new position in Fox Factory in the fourth quarter worth $206,000. Diversify Wealth Management LLC boosted 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 worth $207,000 after purchasing an additional 680 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Fox Factory during the fourth quarter worth $230,000. 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 Performance

Shares of NASDAQ:FOXF opened at $20.35 on Thursday. The firm’s 50 day simple moving average is $23.72 and its 200 day simple moving average is $29.06. Fox Factory Holding Corp. has a fifty-two week low of $17.95 and a fifty-two week high of $54.86. The company has a market capitalization of $848.84 million, a price-to-earnings ratio of 78.27, a P/E/G ratio of 1.45 and a beta of 1.56. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $352.84 million during the quarter, compared to analysts’ expectations of $321.31 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. As a group, sell-side analysts forecast that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FOXF shares. Robert W. Baird reduced their price objective on Fox Factory from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Truist Financial dropped their price objective on Fox Factory from $40.00 to $24.00 and set a “buy” rating for the company in a report on Monday, April 14th. Stifel Nicolaus reduced their target price on shares of Fox Factory from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Jefferies Financial Group dropped their price target on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

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.