M&T Bank Corp Cuts Stake in Fox Factory Holding Corp. (NASDAQ:FOXF)

M&T Bank Corp lessened its stake in Fox Factory Holding Corp. (NASDAQ:FOXF) by 35.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,172 shares of the company’s stock after selling 11,495 shares during the quarter. M&T Bank Corp owned approximately 0.05% of Fox Factory worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FOXF. Precision Wealth Strategies LLC increased its holdings in Fox Factory by 6.3% in the 1st quarter. Precision Wealth Strategies LLC now owns 9,321 shares of the company’s stock valued at $218,000 after acquiring an additional 549 shares during the last quarter. Swiss National Bank increased its holdings in shares of Fox Factory by 0.9% in the fourth 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 last quarter. Versant Capital Management Inc lifted its position in shares of Fox Factory by 142.8% in the first quarter. Versant Capital Management Inc now owns 1,372 shares of the company’s stock worth $32,000 after buying an additional 807 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Fox Factory by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,039 shares of the company’s stock valued at $728,000 after buying an additional 816 shares during the last quarter. Finally, Eukles Asset Management grew its holdings in Fox Factory by 80.3% during the 1st quarter. Eukles Asset Management now owns 2,265 shares of the company’s stock valued at $53,000 after buying an additional 1,009 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Robert W. Baird dropped their price objective on shares of Fox Factory from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 4th. Finally, Truist Financial boosted their target price on shares of Fox Factory from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.43.

Fox Factory Price Performance

FOXF stock opened at $25.53 on Thursday. The stock has a market cap of $1.06 billion, a PE ratio of -4.26 and a beta of 1.50. Fox Factory Holding Corp. has a 12 month low of $17.95 and a 12 month high of $54.86. The company has a 50-day moving average price of $26.00 and a 200 day moving average price of $25.35. The company has a current ratio of 3.18, a quick ratio of 1.36 and a debt-to-equity ratio of 0.73.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $355.03 million during the quarter, compared to the consensus estimate of $330.71 million. Fox Factory had a negative net margin of 17.64% and a positive return on equity of 4.70%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. Equities research analysts anticipate that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

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.