Russell Investments Group Ltd. Has $6.40 Million Stake in Fox Factory Holding Corp. (NASDAQ:FOXF)

Russell Investments Group Ltd. trimmed its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF – Get Rating) by 23.9% in the fourth quarter, Holdings Channel reports. The fund owned 70,094 shares of the company’s stock after selling 21,982 shares during the period. Russell Investments Group Ltd.’s holdings in Fox Factory were worth $6,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its stake in Fox Factory by 4.1% in the fourth quarter. Arizona State Retirement System now owns 11,925 shares of the company’s stock valued at $1,088,000 after acquiring an additional 471 shares during the period. Commonwealth Equity Services LLC acquired a new position in Fox Factory in the fourth quarter valued at about $221,000. LPL Financial LLC lifted its holdings in shares of Fox Factory by 9.0% in the fourth quarter. LPL Financial LLC now owns 12,457 shares of the company’s stock valued at $1,135,000 after purchasing an additional 1,032 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in shares of Fox Factory in the fourth quarter valued at about $743,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Fox Factory by 15.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 63,762 shares of the company’s stock valued at $5,817,000 after purchasing an additional 8,336 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Fox Factory Stock Performance

FOXF opened at $95.85 on Monday. Fox Factory Holding Corp. has a 52-week low of $69.28 and a 52-week high of $127.54. The firm has a market capitalization of $4.05 billion, a PE ratio of 20.44, a PEG ratio of 1.69 and a beta of 1.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.98 and a current ratio of 3.48. The business’s 50-day simple moving average is $112.70 and its 200 day simple moving average is $107.82.

Fox Factory (NASDAQ:FOXF – Get Rating) last released its earnings results on Thursday, May 4th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.02. Fox Factory had a return on equity of 20.99% and a net margin of 12.25%. The business had revenue of $399.90 million for the quarter, compared to analyst estimates of $393.85 million. During the same quarter in the prior year, the company posted $1.32 earnings per share. Fox Factory’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Fox Factory Holding Corp. will post 5.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on FOXF. Roth Mkm began coverage on Fox Factory in a report on Wednesday, April 5th. They issued a “neutral” rating and a $126.00 price target on the stock. StockNews.com lowered Fox Factory from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Truist Financial boosted their price target on Fox Factory from $115.00 to $125.00 in a report on Friday, February 24th. Robert W. Baird boosted their price target on Fox Factory from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, February 24th. Finally, Jefferies Financial Group cut their price target on Fox Factory from $145.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, March 17th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $127.80.

About Fox Factory

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Fox Factory Holding Corp. engages in designing, engineering, manufacturing and marketing performance ride dynamics products. The firm offers bicycles, side-by-sides and on-road vehicles with off-road capabilities, off-road vehicles and trucks, all – terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles.