Towle & Co. Has $5.46 Million Stake in Fox Factory Holding Corp. $FOXF

Towle & Co. lowered its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 36.7% in the first quarter, HoldingsChannel.com reports. The fund owned 331,580 shares of the company’s stock after selling 192,494 shares during the quarter. Fox Factory comprises 2.1% of Towle & Co.’s portfolio, making the stock its 25th biggest position. Towle & Co.’s holdings in Fox Factory were worth $5,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Western Standard LLC acquired a new position in shares of Fox Factory in the fourth quarter valued at approximately $2,053,000. Teachers Retirement System of The State of Kentucky boosted its position in Fox Factory by 3,173.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 388,666 shares of the company’s stock worth $6,650,000 after acquiring an additional 376,792 shares during the last quarter. RWWM Inc. boosted its position in Fox Factory by 4.7% during the first quarter. RWWM Inc. now owns 5,533,072 shares of the company’s stock worth $91,074,000 after acquiring an additional 247,635 shares during the last quarter. Intech Investment Management LLC grew its stake in Fox Factory by 158.2% in the 4th quarter. Intech Investment Management LLC now owns 60,081 shares of the company’s stock worth $1,028,000 after acquiring an additional 36,811 shares during the period. Finally, CenterBook Partners LP acquired a new position in Fox Factory in the 4th quarter valued at $1,819,000.

Fox Factory Stock Performance

Fox Factory stock opened at $18.25 on Friday. The company has a market cap of $765.40 million, a price-to-earnings ratio of -2.55, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. Fox Factory Holding Corp. has a 12 month low of $13.08 and a 12 month high of $31.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.99 and a quick ratio of 1.52. The stock’s 50-day moving average is $17.62 and its 200-day moving average is $17.74.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. The business 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%.The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Equities analysts anticipate that Fox Factory Holding Corp. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Roth Capital restated a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a report on Friday, May 8th. Zacks Research raised Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Stifel Nicolaus set a $24.00 price objective on shares of Fox Factory in a research note on Thursday, April 16th. Bank of America cut shares of Fox Factory from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $24.00 to $20.00 in a research report on Tuesday, June 30th. Finally, Fox Advisors set a $20.00 price target on shares of Fox Factory in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.