Deutsche Bank AG Acquires New Shares in Fox Factory Holding Corp. $FOXF

Deutsche Bank AG acquired a new stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 96,559 shares of the company’s stock, valued at approximately $1,637,000.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in Fox Factory in the 2nd quarter worth approximately $4,032,000. GSA Capital Partners LLP purchased a new stake in Fox Factory during the second quarter valued at $272,000. Empowered Funds LLC grew its position in Fox Factory by 93.8% in the first quarter. Empowered Funds LLC now owns 372,186 shares of the company’s stock worth $6,126,000 after acquiring an additional 180,168 shares in the last quarter. Engine Capital Management LP raised its holdings in Fox Factory by 162.3% during the 1st quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock valued at $33,352,000 after buying an additional 1,253,808 shares during the period. Finally, Estuary Capital Management LP boosted its stake in shares of Fox Factory by 15.3% during the 1st quarter. Estuary Capital Management LP now owns 1,815,271 shares of the company’s stock worth $29,879,000 after purchasing an additional 240,512 shares during the period.

Fox Factory Trading Down 2.6%

Shares of FOXF stock opened at $20.56 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.10 and a quick ratio of 1.55. Fox Factory Holding Corp. has a 1-year low of $13.08 and a 1-year high of $29.97. The firm has a market cap of $864.14 million, a PE ratio of -2.88, a price-to-earnings-growth ratio of 0.60 and a beta of 1.35. The company has a 50-day moving average of $19.06 and a two-hundred day moving average of $18.02.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The business had revenue of $358.12 million for the quarter, compared to analyst estimates of $352.94 million. During the same period last year, the business earned $0.40 EPS. The company’s revenue was down 4.5% on a year-over-year basis. On average, analysts predict that Fox Factory Holding Corp. will post 1.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FOXF shares. Zacks Research raised shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Roth Capital reiterated a “neutral” rating and set a $20.00 price objective 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. Weiss Ratings restated a “sell (e+)” rating on shares of Fox Factory in a research report on Friday, August 7th. Finally, Fox Advisors set a $20.00 price target on Fox Factory in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.00.

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.