Wesbanco Bank Inc. Acquires 17,700 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Wesbanco Bank Inc. lifted its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 136.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 30,700 shares of the company's stock after buying an additional 17,700 shares during the quarter. Wesbanco Bank Inc. owned approximately 0.07% of Fox Factory worth $1,274,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in Fox Factory by 86.0% in the third quarter. GAMMA Investing LLC now owns 599 shares of the company's stock valued at $25,000 after buying an additional 277 shares during the last quarter. Fifth Third Bancorp lifted its position in Fox Factory by 26.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company's stock valued at $60,000 after purchasing an additional 261 shares during the last quarter. Covestor Ltd boosted its stake in Fox Factory by 31.8% during the 1st quarter. Covestor Ltd now owns 1,518 shares of the company's stock valued at $79,000 after purchasing an additional 366 shares during the period. CWM LLC grew its position in Fox Factory by 34.3% in the 2nd quarter. CWM LLC now owns 2,222 shares of the company's stock worth $107,000 after purchasing an additional 567 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Fox Factory by 37.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,318 shares of the company's stock valued at $112,000 after purchasing an additional 635 shares during the period.

Fox Factory Price Performance

Fox Factory stock traded up $1.31 during mid-day trading on Wednesday, hitting $40.90. The company's stock had a trading volume of 259,038 shares, compared to its average volume of 576,764. The stock has a market capitalization of $1.70 billion, a P/E ratio of 22.85, a P/E/G ratio of 2.67 and a beta of 1.64. Fox Factory Holding Corp. has a twelve month low of $34.56 and a twelve month high of $96.06. The stock's fifty day moving average price is $40.13 and its two-hundred day moving average price is $43.94. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.03. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The business had revenue of $348.49 million for the quarter, compared to analysts' expectations of $346.22 million. During the same period in the previous year, the firm posted $1.21 EPS. The company's quarterly revenue was down 13.0% on a year-over-year basis. Research analysts forecast that Fox Factory Holding Corp. will post 1.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FOXF. Robert W. Baird reduced their price objective on Fox Factory from $48.00 to $45.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. Bank of America reduced their price target on Fox Factory from $53.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th. B. Riley lowered their price target on Fox Factory from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Finally, Truist Financial lowered their price objective on shares of Fox Factory from $55.00 to $54.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Fox Factory presently has an average rating of "Hold" and a consensus target price of $46.17.

Insider Transactions at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison bought 4,800 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $41.44 per share, with a total value 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. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by insiders.

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.