Northern Trust Corp Cuts Position in Fox Factory Holding Corp. $FOXF

Key Points

• Northern Trust Corp reduced its position in Fox Factory Holding Corp. by 3.7%, holding 429,743 shares valued at approximately $10 million after selling 16,506 shares in Q1.
• Fox Factory reported a negative earnings surprise with EPS of $0.40 for the last quarter, missing estimates of $0.43, despite a year-over-year revenue increase of 7.6%.
• Analysts have mixed opinions on Fox Factory, with three holding a Buy rating and a consensus price target of $34.86, indicating potential for growth despite recent challenges.

Northern Trust Corp trimmed its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 429,743 shares of the company's stock after selling 16,506 shares during the period. Northern Trust Corp owned 1.03% of Fox Factory worth $10,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Precision Wealth Strategies LLC grew its stake in Fox Factory by 6.3% in the 1st quarter. Precision Wealth Strategies LLC now owns 9,321 shares of the company's stock valued at $218,000 after acquiring an additional 549 shares during the last quarter. CWM LLC grew its stake in Fox Factory by 76.2% in the 1st quarter. CWM LLC now owns 1,341 shares of the company's stock valued at $31,000 after acquiring an additional 580 shares during the last quarter. Versant Capital Management Inc grew its stake in Fox Factory by 142.8% in the 1st quarter. Versant Capital Management Inc now owns 1,372 shares of the company's stock valued at $32,000 after acquiring an additional 807 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Fox Factory by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,039 shares of the company's stock valued at $728,000 after acquiring an additional 816 shares during the last quarter. Finally, Eukles Asset Management grew its stake in Fox Factory by 80.3% in the 1st quarter. Eukles Asset Management now owns 2,265 shares of the company's stock valued at $53,000 after acquiring an additional 1,009 shares during the last quarter.

Fox Factory Price Performance

Fox Factory stock opened at $29.23 on Friday. The firm's 50-day moving average is $28.70 and its two-hundred day moving average is $25.63. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.03 and a quick ratio of 1.36. Fox Factory Holding Corp. has a 12-month low of $17.95 and a 12-month high of $44.27. The stock has a market capitalization of $1.22 billion, a P/E ratio of -4.83 and a beta of 1.48.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its earnings results 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). Fox Factory had a positive return on equity of 5.03% and a negative net margin of 17.50%.The company had revenue of $374.86 million during the quarter, compared to analyst estimates of $349.01 million. During the same period in the prior year, the business posted $0.38 earnings per share. Fox Factory'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. Equities analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FOXF shares. Stifel Nicolaus increased their price objective on shares of Fox Factory from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, August 8th. B. Riley reiterated a "neutral" rating and set a $32.00 price objective (up previously from $26.00) on shares of Fox Factory in a research report on Friday, August 8th. Finally, Truist Financial lifted their price objective on Fox Factory from $28.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Fox Factory has a consensus rating of "Hold" and an average price target of $34.86.

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.

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