RWWM Inc. Acquires 247,635 Shares of Fox Factory Holding Corp. $FOXF

RWWM Inc. boosted its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 4.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,533,072 shares of the company’s stock after purchasing an additional 247,635 shares during the period. Fox Factory accounts for approximately 6.6% of RWWM Inc.’s portfolio, making the stock its 6th biggest position. RWWM Inc. owned approximately 0.13% of Fox Factory worth $91,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FOXF. Hantz Financial Services Inc. raised its position in shares of Fox Factory by 188.1% during the fourth quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock worth $35,000 after purchasing an additional 1,343 shares during the period. Farther Finance Advisors LLC grew its position in shares of Fox Factory by 108.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after purchasing an additional 1,079 shares during the period. Covestor Ltd increased its stake in Fox Factory by 693.3% during the 4th quarter. Covestor Ltd now owns 2,943 shares of the company’s stock worth $50,000 after purchasing an additional 2,572 shares in the last quarter. Resona Asset Management Co. Ltd. increased its stake in Fox Factory by 33.3% during the 4th quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock worth $73,000 after purchasing an additional 1,035 shares in the last quarter. Finally, OP Asset Management Ltd acquired a new stake in Fox Factory during the 1st quarter worth approximately $91,000.

Fox Factory Stock Performance

Shares of FOXF opened at $17.38 on Wednesday. Fox Factory Holding Corp. has a 12 month low of $13.08 and a 12 month high of $31.18. The firm has a fifty day simple moving average of $17.45 and a 200 day simple moving average of $17.69. The stock has a market capitalization of $728.92 million, a price-to-earnings ratio of -2.42, a PEG ratio of 0.68 and a beta of 1.37. The company has a current ratio of 2.99, a quick ratio of 1.52 and a debt-to-equity ratio of 1.00.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.09. Fox Factory had a negative net margin of 20.25% and a positive return on equity of 5.20%. The firm had revenue of $368.66 million for the quarter, compared to analyst estimates of $351.75 million. During the same period in the previous year, the business earned $0.23 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that Fox Factory Holding Corp. will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on FOXF. Needham & Company LLC reaffirmed a “buy” rating on shares of Fox Factory in a research note on Wednesday, June 3rd. Roth Capital reissued a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a research report on Friday, May 8th. Zacks Research raised shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 3rd. Stifel Nicolaus set a $24.00 target price on shares of Fox Factory in a research note on Thursday, April 16th. Finally, Weiss Ratings cut Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Fox Factory presently has an average rating of “Hold” and an average target price of $23.20.

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.