Invesco Ltd. Raises Stock Holdings in Fox Factory Holding Corp. $FOXF

Key Points

• Invesco Ltd. increased its stake in Fox Factory Holding Corp. by 10.9%, owning approximately 0.46% of the company worth $4.5 million after acquiring additional shares in the first quarter.
• Fox Factory's earnings report showed $0.40 EPS, which was below the analysts' expectations of $0.43, despite a revenue of $374.86 million that exceeded expectations.
• Analysts' ratings indicate a mix of opinions, with three giving a Buy rating and four a Hold, while the average target price for the stock is set at $34.86.

Invesco Ltd. increased its position in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 10.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,461 shares of the company's stock after acquiring an additional 18,936 shares during the quarter. Invesco Ltd. owned about 0.46% of Fox Factory worth $4,515,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bridges Investment Management Inc. boosted its position in shares of Fox Factory by 127.8% in the first quarter. Bridges Investment Management Inc. now owns 63,455 shares of the company's stock valued at $1,481,000 after acquiring an additional 35,599 shares during the period. Two Sigma Advisers LP bought a new position in shares of Fox Factory in the fourth quarter valued at approximately $378,000. Geneva Capital Management LLC boosted its position in shares of Fox Factory by 4.0% in the first quarter. Geneva Capital Management LLC now owns 538,644 shares of the company's stock valued at $12,572,000 after acquiring an additional 20,692 shares during the period. GAMMA Investing LLC boosted its position in shares of Fox Factory by 254.1% in the first quarter. GAMMA Investing LLC now owns 1,696 shares of the company's stock valued at $40,000 after acquiring an additional 1,217 shares during the period. Finally, GSA Capital Partners LLP boosted its position in shares of Fox Factory by 50.2% in the first quarter. GSA Capital Partners LLP now owns 59,792 shares of the company's stock valued at $1,396,000 after acquiring an additional 19,985 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FOXF. Truist Financial lifted their target price on shares of Fox Factory from $28.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. B. Riley reiterated a "neutral" rating and set a $32.00 target price (up from $26.00) on shares of Fox Factory in a research report on Friday, August 8th. Finally, Stifel Nicolaus lifted their target price on shares of Fox Factory from $34.00 to $36.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Fox Factory has a consensus rating of "Hold" and a consensus price target of $34.86.

Fox Factory Trading Down 0.9%

Shares of FOXF traded down $0.25 during mid-day trading on Wednesday, reaching $27.84. The company's stock had a trading volume of 356,075 shares, compared to its average volume of 567,167. The stock has a market cap of $1.16 billion, a PE ratio of -4.60 and a beta of 1.48. The company has a current ratio of 3.03, a quick ratio of 1.36 and a debt-to-equity ratio of 0.70. Fox Factory Holding Corp. has a 52 week low of $17.95 and a 52 week high of $44.27. The company's fifty day moving average price is $28.57 and its two-hundred day moving average price is $25.59.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $374.86 million during the quarter, compared to the consensus estimate 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 firm posted $0.38 earnings per share. Fox Factory has set its FY 2025 guidance at 1.600-2.000 EPS. Q3 2025 guidance at 0.450-0.650 EPS. On average, analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

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.