Principal Financial Group Inc. Sells 4,198 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Principal Financial Group Inc. lowered its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,005 shares of the company’s stock after selling 4,198 shares during the period. Principal Financial Group Inc.’s holdings in Fox Factory were worth $9,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in Fox Factory by 25,005.1% during the second quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after acquiring an additional 1,578,822 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Fox Factory during the 2nd quarter valued at about $53,294,000. Vanguard Group Inc. grew its position in shares of Fox Factory by 5.4% during the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Fox Factory by 25.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock worth $32,483,000 after purchasing an additional 135,542 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Fox Factory by 173.7% in the first quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock worth $9,470,000 after buying an additional 115,432 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Robert W. Baird reduced their price objective on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. B. Riley reduced their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Truist Financial lowered their price objective on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Bank of America reduced their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Roth Mkm lowered their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.50.

Fox Factory Stock Performance

Fox Factory stock opened at $32.29 on Tuesday. Fox Factory Holding Corp. has a 1-year low of $31.19 and a 1-year high of $70.13. The company’s 50-day moving average is $38.20 and its 200 day moving average is $42.80. The firm has a market capitalization of $1.35 billion, a P/E ratio of 124.20, a price-to-earnings-growth ratio of 2.62 and a beta of 1.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business had revenue of $359.10 million during the quarter, compared to analysts’ expectations of $366.86 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Fox Factory 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.