Empowered Funds LLC Has $6.13 Million Stake in Fox Factory Holding Corp. $FOXF

Empowered Funds LLC grew its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 93.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 372,186 shares of the company’s stock after acquiring an additional 180,168 shares during the period. Empowered Funds LLC’s holdings in Fox Factory were worth $6,126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FOXF. Engineers Gate Manager LP grew its position in Fox Factory by 1.1% during the 4th quarter. Engineers Gate Manager LP now owns 73,895 shares of the company’s stock worth $1,264,000 after acquiring an additional 770 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Fox Factory by 12.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock valued at $203,000 after purchasing an additional 858 shares in the last quarter. Resona Asset Management Co. Ltd. raised its position in Fox Factory by 33.3% in the 4th quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock valued at $73,000 after purchasing an additional 1,035 shares during the last quarter. Creative Planning raised its position in Fox Factory by 11.6% in the 3rd quarter. Creative Planning now owns 9,971 shares of the company’s stock valued at $242,000 after purchasing an additional 1,040 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Fox Factory by 108.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock worth $36,000 after purchasing an additional 1,079 shares in the last quarter.

Fox Factory Stock Up 1.1%

NASDAQ:FOXF opened at $18.00 on Friday. Fox Factory Holding Corp. has a 1 year low of $13.08 and a 1 year high of $30.75. The stock has a 50-day moving average price of $17.89 and a two-hundred day moving average price of $17.76. The stock has a market cap of $754.92 million, a price-to-earnings ratio of -2.51, a PEG ratio of 0.70 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 released its quarterly earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The company had revenue of $368.66 million for the quarter, compared to analyst estimates of $351.75 million. During the same quarter last year, the firm posted $0.23 earnings per share. Fox Factory’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that Fox Factory Holding Corp. will post 1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FOXF has been the topic of several research analyst reports. Fox Advisors set a $20.00 target price on Fox Factory in a report on Tuesday, June 30th. Roth Capital reissued a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a report on Friday, May 8th. Weiss Ratings lowered shares of Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Bank of America cut shares of Fox Factory from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $24.00 to $20.00 in a research report on Tuesday, June 30th. Finally, Zacks Research upgraded shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.20.

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.