Empowered Funds LLC Invests $7.39 Million in Fox Factory Holding Corp. $FOXF

Empowered Funds LLC bought a new stake in Fox Factory Holding Corp. (NASDAQ:FOXF) during the 2nd quarter, HoldingsChannel reports. The fund bought 436,098 shares of the company’s stock, valued at approximately $7,390,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FOXF. Hantz Financial Services Inc. raised its holdings in Fox Factory by 188.1% during the fourth quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock worth $35,000 after purchasing an additional 1,343 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Fox Factory by 108.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after purchasing an additional 1,079 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Fox Factory in the 2nd quarter valued at approximately $41,000. Quantbot Technologies LP acquired a new position in Fox Factory during the 2nd quarter worth approximately $48,000. Finally, Covestor Ltd increased its position in Fox Factory by 693.3% during the 4th 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.

Fox Factory Stock Performance

Shares of Fox Factory stock opened at $20.56 on Monday. The company has a 50-day moving average of $19.06 and a two-hundred day moving average of $18.01. Fox Factory Holding Corp. has a 12-month low of $13.08 and a 12-month high of $29.97. The company has a current ratio of 3.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.96. The stock has a market cap of $864.14 million, a PE ratio of -2.88, a price-to-earnings-growth ratio of 0.59 and a beta of 1.35.

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

Analysts Set New Price Targets

Several research firms have recently commented on FOXF. Roth Capital reissued a “neutral” rating and issued a $20.00 price target 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 report on Wednesday, June 3rd. Needham & Company LLC reiterated a “buy” rating on shares of Fox Factory in a research report on Wednesday, June 3rd. Fox Advisors set a $20.00 target price on Fox Factory in a report on Tuesday, June 30th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Fox Factory in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Fox Factory presently has a consensus rating of “Hold” and a consensus target price of $21.00.

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.