Mirae Asset Global Investments Co. Ltd. Increases Stake in Fox Factory Holding Corp. (NASDAQ:FOXF)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,510 shares of the company’s stock after buying an additional 806 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Fox Factory were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd increased its position in shares of Fox Factory by 58.4% during the first quarter. Covestor Ltd now owns 358 shares of the company’s stock valued at $35,000 after buying an additional 132 shares during the period. Operose Advisors LLC purchased a new position in shares of Fox Factory during the third quarter valued at about $37,000. Assetmark Inc. increased its position in shares of Fox Factory by 171.4% during the third quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after buying an additional 240 shares during the period. Lazard Asset Management LLC bought a new stake in Fox Factory during the first quarter worth about $69,000. Finally, CVA Family Office LLC bought a new stake in Fox Factory during the fourth quarter worth about $55,000.

Fox Factory Trading Down 0.6 %

NASDAQ:FOXF opened at $40.49 on Monday. The company’s 50 day moving average price is $51.32 and its 200-day moving average price is $63.09. Fox Factory Holding Corp. has a 52 week low of $40.25 and a 52 week high of $117.68. The company has a quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 3.41 and a beta of 1.64.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). Fox Factory had a net margin of 8.25% and a return on equity of 13.86%. The firm had revenue of $332.50 million for the quarter, compared to analysts’ expectations of $327.07 million. During the same quarter in the previous year, the company earned $1.43 EPS. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. On average, equities research analysts forecast that Fox Factory Holding Corp. will post 2.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on FOXF shares. Stifel Nicolaus dropped their price objective on shares of 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 research note on Monday, February 26th. Bank of America lowered shares of Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Friday, February 23rd. Finally, Truist Financial dropped their price objective on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Fox Factory presently has an average rating of “Hold” and an average target price of $68.20.

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.