Fox Factory Holding Corp. $FOXF Position Increased by Angeles Wealth Management LLC

Angeles Wealth Management LLC lifted its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 27.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 120,316 shares of the company’s stock after buying an additional 25,682 shares during the quarter. Angeles Wealth Management LLC’s holdings in Fox Factory were worth $1,980,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Illinois Municipal Retirement Fund grew its position in Fox Factory by 11.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 22,500 shares of the company’s stock worth $370,000 after purchasing an additional 2,254 shares in the last quarter. Advisors Preferred LLC grew its holdings in shares of Fox Factory by 63.1% during the first quarter. Advisors Preferred LLC now owns 52,359 shares of the company’s stock valued at $862,000 after buying an additional 20,259 shares in the last quarter. RWWM Inc. grew its holdings in shares of 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 buying an additional 247,635 shares in the last quarter. Fifth Third Bancorp raised its position in Fox Factory by 1,586.9% during the first quarter. Fifth Third Bancorp now owns 9,919 shares of the company’s stock valued at $163,000 after buying an additional 9,331 shares during the period. Finally, ARGA Investment Management LP acquired a new position in Fox Factory during the first quarter valued at $335,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FOXF shares. Stifel Nicolaus set a $24.00 price objective on Fox Factory in a research report on Thursday, April 16th. Roth Capital reiterated a “neutral” rating and issued a $20.00 target price on shares of Fox Factory in a report on Friday, May 8th. Needham & Company LLC reissued a “buy” rating on shares of Fox Factory in a research report on Wednesday, June 3rd. Weiss Ratings lowered shares of Fox Factory from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Fox Advisors set a $20.00 price target on shares of Fox Factory in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.20.

Fox Factory Price Performance

FOXF opened at $19.53 on Friday. The stock has a fifty day moving average price of $17.46 and a 200 day moving average price of $17.70. The company has a current ratio of 2.99, a quick ratio of 1.52 and a debt-to-equity ratio of 1.00. Fox Factory Holding Corp. has a 1 year low of $13.08 and a 1 year high of $31.18. The stock has a market cap of $819.09 million, a price-to-earnings ratio of -2.72, a PEG ratio of 0.70 and a beta of 1.37.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.09. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.The company had revenue of $368.66 million for the quarter, compared to analyst estimates of $351.75 million. During the same period in the prior year, the firm posted $0.23 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. Analysts forecast that Fox Factory Holding Corp. will post 1.41 EPS for the current fiscal year.

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.