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

Engine Capital Management LP purchased a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 772,422 shares of the company’s stock, valued at approximately $13,216,000. Fox Factory accounts for 1.8% of Engine Capital Management LP’s investment portfolio, making the stock its 13th biggest holding. Engine Capital Management LP owned about 1.85% of Fox Factory as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Nantahala Capital Management LLC grew its holdings in shares of Fox Factory by 200.3% during the 4th quarter. Nantahala Capital Management LLC now owns 2,188,300 shares of the company’s stock worth $37,442,000 after purchasing an additional 1,459,652 shares during the period. State Street Corp boosted its holdings in Fox Factory by 1.4% during the 4th quarter. State Street Corp now owns 1,620,544 shares of the company’s stock valued at $27,728,000 after acquiring an additional 21,914 shares during the period. Estuary Capital Management LP boosted its holdings in Fox Factory by 4.6% during the 4th quarter. Estuary Capital Management LP now owns 1,574,759 shares of the company’s stock valued at $26,944,000 after acquiring an additional 69,405 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in Fox Factory by 72.9% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,239,216 shares of the company’s stock valued at $30,101,000 after acquiring an additional 522,391 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Fox Factory by 9.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,075,521 shares of the company’s stock valued at $26,125,000 after acquiring an additional 96,178 shares during the period.

Fox Factory Price Performance

FOXF stock opened at $17.64 on Thursday. 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 firm has a market capitalization of $739.82 million, a P/E ratio of -2.46, a P/E/G ratio of 0.62 and a beta of 1.37. The business’s 50-day moving average is $17.31 and its two-hundred day moving average is $17.58. Fox Factory Holding Corp. has a 1 year low of $13.08 and a 1 year high of $31.18.

Fox Factory (NASDAQ:FOXF) last posted its quarterly 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 company 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%.Fox Factory’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. Analysts anticipate that Fox Factory Holding Corp. will post 1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on FOXF. Stifel Nicolaus set a $24.00 target price on Fox Factory in a report on Thursday, April 16th. Needham & Company LLC restated a “buy” rating on shares of Fox Factory in a report on Wednesday, June 3rd. Zacks Research upgraded Fox Factory from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 3rd. Weiss Ratings cut Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, Roth Mkm restated a “neutral” rating and set a $20.00 target price on shares of Fox Factory in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Fox Factory has an average rating of “Hold” and an average target price of $25.33.

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.