Engine Capital Management LP Invests $13.22 Million in Fox Factory Holding Corp. $FOXF

Engine Capital Management LP bought a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) during the 4th quarter, Holdings Channel reports. The institutional investor bought 772,422 shares of the company’s stock, valued at approximately $13,216,000. Fox Factory comprises approximately 1.8% of Engine Capital Management LP’s holdings, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hantz Financial Services Inc. increased its position in 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 buying an additional 1,343 shares during the period. Farther Finance Advisors LLC increased its position in Fox Factory by 108.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock worth $36,000 after buying an additional 1,079 shares during the period. Covestor Ltd increased its position in Fox Factory by 693.3% during the fourth quarter. Covestor Ltd now owns 2,943 shares of the company’s stock worth $50,000 after buying an additional 2,572 shares during the period. Resona Asset Management Co. Ltd. increased its position in Fox Factory by 33.3% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock worth $73,000 after buying an additional 1,035 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Fox Factory by 23.8% during the third quarter. PNC Financial Services Group Inc. now owns 7,365 shares of the company’s stock worth $179,000 after buying an additional 1,415 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FOXF shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Fox Factory in a research report on Wednesday, June 3rd. Zacks Research raised 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 price target on Fox Factory in a research report on Thursday, April 16th. Weiss Ratings lowered Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $20.00 price target on shares of Fox Factory in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.33.

Fox Factory Trading Down 2.8%

NASDAQ:FOXF opened at $17.64 on Thursday. The firm has a market cap of $739.82 million, a P/E ratio of -2.46, a PEG ratio of 0.62 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. The stock’s 50 day simple moving average is $17.31 and its 200-day simple moving average is $17.58. Fox Factory Holding Corp. has a 12-month low of $13.08 and a 12-month high of $31.18.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. The business had revenue of $368.66 million for the quarter, compared to analyst estimates of $351.76 million. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. Equities analysts anticipate that Fox Factory Holding Corp. will post 1.45 EPS for the current year.

About Fox Factory

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.