Legal & General Group Plc Makes New Investment in Fox Factory Holding Corp. $FOXF

Legal & General Group Plc acquired a new stake in Fox Factory Holding Corp. (NASDAQ:FOXF) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 97,892 shares of the company’s stock, valued at approximately $1,659,000. Legal & General Group Plc owned approximately 0.23% of Fox Factory as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in Fox Factory by 188.1% in the 4th quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock valued at $35,000 after purchasing an additional 1,343 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Fox Factory in the 2nd quarter valued at approximately $48,000. Covestor Ltd boosted its stake in shares of Fox Factory by 693.3% in the fourth quarter. Covestor Ltd now owns 2,943 shares of the company’s stock valued at $50,000 after buying an additional 2,572 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in Fox Factory by 33.3% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock worth $73,000 after buying an additional 1,035 shares during the period. Finally, OP Asset Management Ltd acquired a new stake in shares of Fox Factory in the first quarter worth approximately $91,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FOXF. Zacks Research raised shares of Fox Factory from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 31st. Needham & Company LLC reissued a “buy” rating on shares of Fox Factory in a research note on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fox Factory in a research report on Friday, August 7th. Fox Advisors set a $20.00 target price on Fox Factory in a report on Tuesday, June 30th. Finally, Bank of America lowered 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 note on Tuesday, June 30th. Two 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 assigned a Sell rating to the company. According to MarketBeat.com, Fox Factory currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Fox Factory Stock Performance

FOXF opened at $21.52 on Monday. The company has a quick ratio of 1.55, a current ratio of 3.10 and a debt-to-equity ratio of 0.96. The firm has a market cap of $904.49 million, a PE ratio of -3.01, a P/E/G ratio of 0.62 and a beta of 1.38. The business has a fifty day simple moving average of $19.28 and a 200-day simple moving average of $18.05. Fox Factory Holding Corp. has a fifty-two week low of $13.08 and a fifty-two week high of $29.97.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, August 6th. The company reported $0.37 earnings per share (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 company had revenue of $358.12 million during the quarter, compared to the consensus estimate of $352.94 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue was down 4.5% compared to the same quarter last year. As a group, equities analysts predict that Fox Factory Holding Corp. will post 1.55 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.