The Manufacturers Life Insurance Company Takes Position in Fox Factory Holding Corp. $FOXF

The Manufacturers Life Insurance Company acquired a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 946,325 shares of the company’s stock, valued at approximately $16,035,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Fox Factory during the 2nd quarter worth about $109,706,000. RWWM Inc. lifted its holdings in shares of Fox Factory by 4.7% in the first quarter. RWWM Inc. now owns 5,533,072 shares of the company’s stock valued at $91,074,000 after purchasing an additional 247,635 shares in the last quarter. Nantahala Capital Management LLC boosted its position in shares of Fox Factory by 200.3% during the fourth quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock worth $37,442,000 after buying an additional 1,459,652 shares during the period. Engine Capital Management LP grew its holdings in shares of Fox Factory by 162.3% during the first quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock worth $33,352,000 after buying an additional 1,253,808 shares in the last quarter. Finally, Estuary Capital Management LP grew its holdings in shares of Fox Factory by 15.3% during the first quarter. Estuary Capital Management LP now owns 1,815,271 shares of the company’s stock worth $29,879,000 after buying an additional 240,512 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FOXF shares. Fox Advisors set a $20.00 target price on Fox Factory in a research report on Tuesday, June 30th. Bank of America cut shares of Fox Factory from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $24.00 to $20.00 in a research note on Tuesday, June 30th. Needham & Company LLC reiterated a “buy” rating on shares of Fox Factory in a report on Wednesday, June 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Fox Factory in a research report on Friday, August 7th. Finally, Zacks Research upgraded shares of Fox Factory from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.00.

Fox Factory Stock Down 2.6%

NASDAQ:FOXF opened at $20.56 on Friday. The firm has a market capitalization of $864.14 million, a price-to-earnings ratio of -2.88, a price-to-earnings-growth ratio of 0.60 and a beta of 1.35. Fox Factory Holding Corp. has a twelve month low of $13.08 and a twelve month high of $29.97. The stock’s 50 day moving average price is $19.06 and its two-hundred day moving average price is $18.02. The company has a quick ratio of 1.55, a current ratio of 3.10 and a debt-to-equity ratio of 0.96.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19. Fox Factory had a positive return on equity of 5.57% and a negative net margin of 20.39%.The company had revenue of $358.12 million during the quarter, compared to the consensus estimate of $352.94 million. During the same quarter in the prior year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities research analysts expect that Fox Factory Holding Corp. will post 1.55 earnings per share for the current fiscal year.

Fox Factory 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.