Fox Factory Holding Corp. (NASDAQ:FOXF) Shares Bought by Wesbanco Bank Inc.

Wesbanco Bank Inc. lifted its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 136.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,700 shares of the company’s stock after purchasing an additional 17,700 shares during the period. Wesbanco Bank Inc. owned about 0.07% of Fox Factory worth $1,274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FOXF. Inspire Investing LLC lifted its stake in Fox Factory by 35.4% in the 3rd quarter. Inspire Investing LLC now owns 9,910 shares of the company’s stock valued at $411,000 after buying an additional 2,592 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Fox Factory by 86.0% in the third quarter. GAMMA Investing LLC now owns 599 shares of the company’s stock worth $25,000 after acquiring an additional 277 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Fox Factory by 7.3% in the third quarter. Park Avenue Securities LLC now owns 6,023 shares of the company’s stock worth $250,000 after acquiring an additional 410 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Fox Factory by 73.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 64,200 shares of the company’s stock worth $3,094,000 after acquiring an additional 27,200 shares during the last quarter. Finally, Ariadne Wealth Management LP purchased a new stake in shares of Fox Factory during the second quarter worth approximately $512,000.

Insider Activity at Fox Factory

In related news, CEO Michael C. Dennison purchased 4,800 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now directly owns 135,066 shares in the company, valued at approximately $5,597,135.04. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Robert W. Baird dropped their price objective on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Bank of America decreased their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, B. Riley dropped their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.17.

Fox Factory Stock Performance

Fox Factory stock opened at $39.59 on Wednesday. The firm has a 50 day simple moving average of $40.10 and a 200-day simple moving average of $43.96. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 2.67 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63. Fox Factory Holding Corp. has a 1-year low of $34.56 and a 1-year high of $96.06.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The company had revenue of $348.49 million during the quarter, compared to analyst estimates of $346.22 million. During the same period in the prior year, the business posted $1.21 earnings per share. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. On average, analysts expect that Fox Factory Holding Corp. will post 1.56 EPS for the current year.

About Fox Factory

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.