PNC Financial Services Group Inc. Grows Holdings in Fox Factory Holding Corp. $FOXF

PNC Financial Services Group Inc. raised its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 46.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,766 shares of the company’s stock after acquiring an additional 2,156 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fox Factory were worth $158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CWM LLC raised its position in shares of Fox Factory by 76.2% during the 1st quarter. CWM LLC now owns 1,341 shares of the company’s stock valued at $31,000 after buying an additional 580 shares in the last quarter. Versant Capital Management Inc raised its stake 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 valued at $32,000 after acquiring an additional 807 shares during the period. Quarry LP purchased a new position in shares of Fox Factory during the 4th quarter worth about $45,000. GAMMA Investing LLC boosted its stake in shares of Fox Factory by 254.1% during the 1st quarter. GAMMA Investing LLC now owns 1,696 shares of the company’s stock worth $40,000 after purchasing an additional 1,217 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in Fox Factory by 113.8% during the 1st quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares during the last quarter.

Fox Factory Stock Down 2.0%

Shares of NASDAQ FOXF opened at $29.02 on Tuesday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -4.80 and a beta of 1.50. Fox Factory Holding Corp. has a 52-week low of $17.95 and a 52-week high of $44.27. The company’s 50-day simple moving average is $27.74 and its 200-day simple moving average is $25.33. The company has a quick ratio of 1.36, a current ratio of 3.03 and a debt-to-equity ratio of 0.70.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Fox Factory had a positive return on equity of 5.03% and a negative net margin of 17.50%. The business had revenue of $374.86 million for the quarter, compared to analyst estimates of $349.01 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. Equities analysts predict that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on FOXF. Stifel Nicolaus lifted their target price on Fox Factory from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Truist Financial lifted their price objective on shares of Fox Factory from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, B. Riley restated a “neutral” rating and issued a $32.00 target price (up from $26.00) on shares of Fox Factory in a research note on Friday, August 8th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fox Factory presently has an average rating of “Hold” and an average target price of $34.86.

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.