Advisors Capital Management LLC Increases Stock Holdings in Fox Factory Holding Corp. $FOXF

Key Points

• Advisors Capital Management LLC increased its holdings in Fox Factory Holding Corp. by 86.1% during the first quarter, now owning 110,752 shares valued at approximately $2.58 million.
• Fox Factory's stock has seen a recent trading decrease of 5.4%, with current share prices at $27.25 and a market cap of $1.14 billion.
• The company reported earnings of $0.40 per share, which fell short of analyst expectations, despite a revenue increase of 7.6% year-over-year, totaling $374.86 million.

Advisors Capital Management LLC boosted its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 86.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,752 shares of the company's stock after purchasing an additional 51,243 shares during the quarter. Advisors Capital Management LLC owned about 0.27% of Fox Factory worth $2,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FOXF. Precision Wealth Strategies LLC lifted its stake in Fox Factory by 6.3% in the first quarter. Precision Wealth Strategies LLC now owns 9,321 shares of the company's stock valued at $218,000 after buying an additional 549 shares during the last quarter. CWM LLC lifted its stake in Fox Factory by 76.2% in the first quarter. CWM LLC now owns 1,341 shares of the company's stock valued at $31,000 after buying an additional 580 shares during the last quarter. Versant Capital Management Inc lifted its stake in Fox Factory by 142.8% in the first quarter. Versant Capital Management Inc now owns 1,372 shares of the company's stock valued at $32,000 after buying an additional 807 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Fox Factory by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,039 shares of the company's stock valued at $728,000 after buying an additional 816 shares during the last quarter. Finally, Eukles Asset Management raised its stake in shares of Fox Factory by 80.3% during the first quarter. Eukles Asset Management now owns 2,265 shares of the company's stock worth $53,000 after purchasing an additional 1,009 shares during the last quarter.

Analyst Upgrades and Downgrades

FOXF has been the subject of several analyst reports. Stifel Nicolaus upped their price target on Fox Factory from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. B. Riley restated a "neutral" rating and set a $32.00 price target (up previously from $26.00) on shares of Fox Factory in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.50.

Fox Factory Price Performance

NASDAQ:FOXF traded up $0.31 during trading hours on Thursday, hitting $26.33. The company's stock had a trading volume of 146,576 shares, compared to its average volume of 594,108. The business's 50-day moving average is $28.71 and its two-hundred day moving average is $25.71. The company has a market capitalization of $1.10 billion, a PE ratio of -4.35 and a beta of 1.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.36 and a current ratio of 3.03. Fox Factory Holding Corp. has a 52-week low of $17.95 and a 52-week high of $44.27.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $374.86 million during the quarter, compared to analysts' expectations of $349.01 million. Fox Factory had a positive return on equity of 5.03% and a negative net margin of 17.50%.The company's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. 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 anticipate that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Fox Factory Company Profile

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.