Synovus Financial Corp Grows Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Synovus Financial Corp increased its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXFGet Rating) by 6.2% in the second quarter, reports. The firm owned 4,735 shares of the company’s stock after buying an additional 276 shares during the period. Synovus Financial Corp’s holdings in Fox Factory were worth $375,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in Fox Factory by 58.4% in the 1st quarter. Covestor Ltd now owns 358 shares of the company’s stock valued at $35,000 after acquiring an additional 132 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Fox Factory by 375.4% in the second quarter. First Horizon Advisors Inc. now owns 656 shares of the company’s stock valued at $52,000 after purchasing an additional 518 shares during the period. Logan Capital Management Inc. grew its holdings in shares of Fox Factory by 34.5% in the first quarter. Logan Capital Management Inc. now owns 601 shares of the company’s stock valued at $59,000 after purchasing an additional 154 shares in the last quarter. Ellevest Inc. increased its stake in Fox Factory by 483.7% during the 2nd quarter. Ellevest Inc. now owns 753 shares of the company’s stock worth $61,000 after buying an additional 624 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Fox Factory during the 1st quarter worth approximately $69,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity

In related news, Director Elizabeth A. Fetter sold 2,600 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $99.32, for a total value of $258,232.00. Following the completion of the sale, the director now directly owns 2,056 shares of the company’s stock, valued at approximately $204,201.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

FOXF has been the topic of a number of recent research reports. Truist Financial cut their price objective on Fox Factory from $130.00 to $108.00 and set a “buy” rating on the stock in a research report on Wednesday, October 5th. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and boosted their target price for the stock from $88.00 to $115.00 in a research note on Friday, August 5th. Finally, assumed coverage on Fox Factory in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.00.

Fox Factory Price Performance

Shares of FOXF opened at $106.15 on Monday. The company has a current ratio of 3.31, a quick ratio of 1.97 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $86.22 and its 200-day simple moving average is $87.78. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.46 and a beta of 1.69. Fox Factory Holding Corp. has a twelve month low of $69.28 and a twelve month high of $188.65.

Fox Factory Profile

(Get Rating)

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and 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.

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Institutional Ownership by Quarter for Fox Factory (NASDAQ:FOXF)

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