Allspring Global Investments Holdings LLC Reduces Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Allspring Global Investments Holdings LLC trimmed its stake in Fox Factory Holding Corp. (NASDAQ:FOXF) by 81.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,620 shares of the company’s stock after selling 90,474 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Fox Factory were worth $1,391,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Fox Factory in the third quarter worth about $1,950,000. GHP Investment Advisors Inc. raised its stake in Fox Factory by 11.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 37,934 shares of the company’s stock worth $3,493,000 after acquiring an additional 3,911 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Fox Factory by 3.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 6,662 shares of the company’s stock valued at $660,000 after purchasing an additional 213 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Fox Factory by 1.1% in the third 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Fox Factory by 26.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,065 shares of the company’s stock worth $700,000 after purchasing an additional 1,485 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank of America downgraded shares of Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Friday, February 23rd. Stifel Nicolaus decreased their target price on Fox Factory from $69.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. StockNews.com lowered shares of Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Finally, Truist Financial lowered their target price on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.20.

Fox Factory Stock Up 0.4 %

NASDAQ FOXF opened at $40.66 on Tuesday. The stock has a 50 day moving average price of $50.75 and a 200-day moving average price of $62.71. Fox Factory Holding Corp. has a one year low of $40.15 and a one year high of $117.68. The company has a market capitalization of $1.71 billion, a P/E ratio of 14.27, a P/E/G ratio of 3.41 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70.

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