Legal & General Group Plc Invests $1.66 Million in Fox Factory Holding Corp. $FOXF

Legal & General Group Plc acquired a new stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 97,892 shares of the company’s stock, valued at approximately $1,659,000.

A number of other large investors have also recently added to or reduced their stakes in FOXF. Quantinno Capital Management LP boosted its holdings in shares of Fox Factory by 216.8% during the 1st quarter. Quantinno Capital Management LP now owns 163,635 shares of the company’s stock worth $2,693,000 after buying an additional 111,976 shares during the period. RWWM Inc. boosted its holdings in Fox Factory by 4.7% during the first quarter. RWWM Inc. now owns 5,533,072 shares of the company’s stock valued at $91,074,000 after acquiring an additional 247,635 shares during the period. Engine Capital Management LP grew its position in shares of Fox Factory by 162.3% in the first quarter. Engine Capital Management LP now owns 2,026,230 shares of the company’s stock valued at $33,352,000 after purchasing an additional 1,253,808 shares during the last quarter. Sei Investments Co. increased its stake in shares of Fox Factory by 103.4% in the first quarter. Sei Investments Co. now owns 213,103 shares of the company’s stock worth $3,508,000 after purchasing an additional 108,321 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Fox Factory by 93.8% during the 1st quarter. Empowered Funds LLC now owns 372,186 shares of the company’s stock worth $6,126,000 after purchasing an additional 180,168 shares during the last quarter.

Wall Street Analyst Weigh In

FOXF has been the topic of several recent analyst reports. Bank of America downgraded Fox Factory from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $24.00 to $20.00 in a research report on Tuesday, June 30th. Needham & Company LLC reiterated a “buy” rating on shares of Fox Factory in a research note on Wednesday, June 3rd. Zacks Research upgraded Fox Factory from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Fox Factory in a research note on Friday, August 7th. Finally, Fox Advisors set a $20.00 target price on Fox Factory in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Fox Factory Stock Performance

Shares of FOXF opened at $21.52 on Monday. The firm has a market cap of $904.49 million, a P/E ratio of -3.01, a PEG ratio of 0.62 and a beta of 1.38. Fox Factory Holding Corp. has a twelve month low of $13.08 and a twelve month high of $29.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.55 and a current ratio of 3.10. The firm’s 50 day moving average price is $19.28 and its two-hundred day moving average price is $18.05.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.37 EPS for the quarter, topping 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 posted $0.40 earnings per share. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. On average, analysts forecast that Fox Factory Holding Corp. will post 1.55 EPS for the current fiscal year.

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.