Deutsche Bank AG Acquires New Shares in Fox Factory Holding Corp. $FOXF

Key Points

• Deutsche Bank acquired 96,559 shares of Fox Factory in the second quarter, worth approximately $1.64 million and representing a 0.23% stake.
• Fox Factory reported quarterly EPS of $0.37, beating estimates of $0.18, while revenue reached $358.1 million but declined 4.5% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $21.00; shares recently opened at $20.56 after trading down 2.6%.

Deutsche Bank AG purchased a new stake in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 96,559 shares of the company's stock, valued at approximately $1,637,000. Deutsche Bank AG owned 0.23% of Fox Factory as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its stake in Fox Factory by 188.1% in the 4th 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 during the period. Farther Finance Advisors LLC raised its holdings in shares of 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 during the period. Covestor Ltd increased its holdings in shares of 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 acquiring an additional 2,572 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its stake in shares of Fox Factory by 33.3% during the 4th 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 last quarter. Finally, OP Asset Management Ltd bought a new stake in shares of Fox Factory during the first quarter worth approximately $91,000.

Fox Factory Trading Down 2.6%

Shares of Fox Factory stock opened at $20.56 on Friday. The stock has a market capitalization of $864.14 million, a P/E ratio of -2.88, a P/E/G ratio of 0.60 and a beta of 1.35. The stock's 50-day simple moving average is $19.06 and its 200 day simple moving average is $18.02. Fox Factory Holding Corp. has a 52-week low of $13.08 and a 52-week 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.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its quarterly earnings results 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 positive return on equity of 5.57% and a negative net margin of 20.39%.The firm had revenue of $358.12 million during the quarter, compared to analyst estimates of $352.94 million. During the same period last year, the company earned $0.40 earnings per share. The business's revenue for the quarter was down 4.5% on a year-over-year basis. As a group, research analysts anticipate that Fox Factory Holding Corp. will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

FOXF has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Fox Factory in a report on Friday, August 7th. Fox Advisors set a $20.00 price target on Fox Factory in a research note on Tuesday, June 30th. Bank of America lowered Fox Factory from a "neutral" rating to an "underperform" rating and cut their target price for the company from $24.00 to $20.00 in a research report on Tuesday, June 30th. Zacks Research upgraded Fox Factory from a "strong sell" rating to a "hold" rating in a report on Wednesday, June 3rd. Finally, Roth Capital reaffirmed a "neutral" rating and issued a $20.00 price target on shares of Fox Factory in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Fox Factory presently has a consensus rating of "Hold" and an average target price of $21.00.

Fox Factory 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.

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