Algert Global LLC Takes $3.70 Million Position in Fox Factory Holding Corp. $FOXF

Key Points

• Algert Global LLC has invested approximately $3.70 million to acquire 158,324 shares of Fox Factory Holding Corp. during the first quarter.
• Several institutional investors increased their stakes in Fox Factory, with RWWM Inc. boosting its position by 79.0% in the same period.
• Fox Factory reported $0.40 earnings per share for the most recent quarter, missing analyst expectations by $0.03, but had a revenue increase of 7.6% year-over-year.

Algert Global LLC purchased a new position in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 158,324 shares of the company's stock, valued at approximately $3,695,000. Algert Global LLC owned approximately 0.38% of Fox Factory at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FOXF. RWWM Inc. lifted its holdings in shares of Fox Factory by 79.0% in the first quarter. RWWM Inc. now owns 3,576,560 shares of the company's stock worth $83,477,000 after buying an additional 1,579,029 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Fox Factory by 6,413.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,352,242 shares of the company's stock worth $40,932,000 after buying an additional 1,331,480 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of Fox Factory in the fourth quarter worth about $19,252,000. Millennium Management LLC increased its position in shares of Fox Factory by 722.1% in the fourth quarter. Millennium Management LLC now owns 391,403 shares of the company's stock worth $11,848,000 after purchasing an additional 343,793 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Fox Factory by 46.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 821,380 shares of the company's stock worth $24,863,000 after purchasing an additional 261,140 shares during the last quarter.

Fox Factory Price Performance

NASDAQ FOXF traded down $0.18 on Monday, reaching $30.17. 256,389 shares of the company's stock traded hands, compared to its average volume of 712,456. Fox Factory Holding Corp. has a 12 month low of $17.95 and a 12 month high of $44.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.03 and a quick ratio of 1.36. The stock has a 50-day simple moving average of $27.99 and a 200 day simple moving average of $25.44. The stock has a market cap of $1.26 billion, a PE ratio of -4.99 and a beta of 1.50.

Fox Factory (NASDAQ:FOXF - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Fox Factory had a negative net margin of 17.50% and a positive return on equity of 5.03%. The business had revenue of $374.86 million for the quarter, compared to the consensus estimate of $349.01 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. Fox Factory has set its FY 2025 guidance at 1.600-2.000 EPS. Q3 2025 guidance at 0.450-0.650 EPS. As a group, research analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. B. Riley restated a "neutral" rating and issued a $32.00 price objective (up from $26.00) on shares of Fox Factory in a research report on Friday, August 8th. Stifel Nicolaus upped their price objective on shares of Fox Factory from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Truist Financial upped their price objective on shares of Fox Factory from $28.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Fox Factory presently has a consensus rating of "Hold" and a consensus target price of $34.86.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.