Principal Financial Group Inc. Has $6.54 Million Position in Fox Factory Holding Corp. $FOXF

Principal Financial Group Inc. boosted its position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 15.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 269,431 shares of the company’s stock after buying an additional 35,575 shares during the quarter. Principal Financial Group Inc.’s holdings in Fox Factory were worth $6,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Federated Hermes Inc. acquired a new position in shares of Fox Factory during the third quarter valued at $25,000. First Horizon Corp acquired a new stake in Fox Factory in the third quarter worth about $25,000. CWM LLC raised its holdings in Fox Factory by 91.3% during the 2nd quarter. CWM LLC now owns 2,565 shares of the company’s stock worth $67,000 after purchasing an additional 1,224 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Fox Factory by 115.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,288 shares of the company’s stock valued at $111,000 after purchasing an additional 2,295 shares during the period. Finally, Resona Asset Management Co. Ltd. boosted its stake in shares of Fox Factory by 21.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 7,503 shares of the company’s stock valued at $194,000 after purchasing an additional 1,300 shares during the last quarter.

Wall Street Analysts Forecast Growth

FOXF has been the subject of a number of recent research reports. Roth Mkm dropped their price target on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, January 6th. Zacks Research lowered shares of Fox Factory from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 4th. CJS Securities upgraded shares of Fox Factory to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fox Factory currently has an average rating of “Hold” and a consensus target price of $30.17.

Fox Factory Stock Up 1.4%

Shares of NASDAQ:FOXF opened at $19.31 on Friday. The company has a 50 day moving average price of $18.25 and a two-hundred day moving average price of $21.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.36 and a current ratio of 2.98. The company has a market capitalization of $807.16 million, a PE ratio of -3.12 and a beta of 1.50. Fox Factory Holding Corp. has a 52 week low of $13.08 and a 52 week high of $31.18.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.