RWWM Inc. Increases Holdings in Fox Factory Holding Corp. $FOXF

RWWM Inc. raised its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 4.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,533,072 shares of the company’s stock after buying an additional 247,635 shares during the period. Fox Factory comprises approximately 6.6% of RWWM Inc.’s holdings, making the stock its 6th largest holding. RWWM Inc. owned about 13.20% of Fox Factory worth $91,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its stake 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 valued at $35,000 after acquiring an additional 1,343 shares during the period. Farther Finance Advisors LLC increased its position 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 during the period. Covestor Ltd increased its position in Fox Factory by 693.3% in the fourth quarter. Covestor Ltd now owns 2,943 shares of the company’s stock worth $50,000 after purchasing an additional 2,572 shares during the period. Resona Asset Management Co. Ltd. raised its holdings 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 during the last quarter. Finally, OP Asset Management Ltd bought a new stake in Fox Factory during the 1st quarter worth about $91,000.

Fox Factory Price Performance

Fox Factory stock opened at $17.38 on Wednesday. The firm has a market capitalization of $728.92 million, a P/E ratio of -2.42, a PEG ratio of 0.68 and a beta of 1.37. Fox Factory Holding Corp. has a 1 year low of $13.08 and a 1 year high of $31.18. The business has a 50-day moving average of $17.45 and a 200-day moving average of $17.69. 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 announced its quarterly earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. The company had revenue of $368.66 million during the quarter, compared to analysts’ expectations of $351.75 million. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.Fox Factory’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. On average, equities analysts anticipate that Fox Factory Holding Corp. will post 1.41 EPS for the current year.

Wall Street Analyst Weigh In

FOXF has been the topic of several recent research reports. Bank of America lowered shares of Fox Factory from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $24.00 to $20.00 in a research note on Tuesday, June 30th. Roth Capital reissued a “neutral” rating and set a $20.00 price target on shares of Fox Factory in a research note on Friday, May 8th. Needham & Company LLC restated a “buy” rating on shares of Fox Factory in a report on Wednesday, June 3rd. Zacks Research raised shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Stifel Nicolaus set a $24.00 target price on shares of Fox Factory in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Fox Factory presently has a consensus rating of “Hold” and a consensus target price of $23.20.

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.