The Manufacturers Life Insurance Company Increases Holdings in Fox Factory Holding Corp. $FOXF

Key Points

• The Manufacturers Life Insurance Company increased its stake in Fox Factory Holding Corp. by 4.2%, acquiring an additional 57,145 shares to reach a total of approximately 1.41 million shares, valued at about $32.9 million.
• Various hedge funds have also increased their investments in Fox Factory, with CWM LLC boosting its position by 76.2% and Nisa Investment Advisors LLC by 474.4% during the first quarter.
• Recent analyst ratings show a mix of recommendations, with three analysts issuing a "Buy" rating and a consensus target price of $34.86 for the stock.

The Manufacturers Life Insurance Company lifted its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,409,387 shares of the company's stock after purchasing an additional 57,145 shares during the quarter. The Manufacturers Life Insurance Company owned 3.38% of Fox Factory worth $32,895,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FOXF. CWM LLC increased its stake in Fox Factory by 76.2% in the 1st quarter. CWM LLC now owns 1,341 shares of the company's stock worth $31,000 after acquiring an additional 580 shares during the last quarter. Versant Capital Management Inc increased 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 worth $32,000 after acquiring an additional 807 shares during the last quarter. GAMMA Investing LLC increased its stake in Fox Factory by 254.1% in the 1st quarter. GAMMA Investing LLC now owns 1,696 shares of the company's stock worth $40,000 after acquiring an additional 1,217 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Fox Factory by 113.8% in the 1st quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company's stock worth $46,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Fox Factory by 474.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,993 shares of the company's stock worth $47,000 after acquiring an additional 1,646 shares during the last quarter.

Fox Factory Stock Up 3.2%

Shares of FOXF traded up $0.90 on Friday, reaching $29.23. The stock had a trading volume of 503,347 shares, compared to its average volume of 522,132. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.83 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. The company has a 50-day simple moving average of $28.70 and a 200-day simple moving average of $25.62. Fox Factory Holding Corp. has a 12-month low of $17.95 and a 12-month high of $44.27.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its 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). The firm had revenue of $374.86 million during the quarter, compared to analysts' expectations of $349.01 million. Fox Factory had a negative net margin of 17.50% and a positive return on equity of 5.03%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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. Sell-side analysts predict that Fox Factory Holding Corp. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

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