Towle & Co. Has $5.46 Million Holdings in Fox Factory Holding Corp. $FOXF

Key Points

• Towle & Co. reduced its Fox Factory stake by 36.7% in the first quarter, selling 192,494 shares and ending with 331,580 shares valued at about $5.46 million. Fox Factory now represents roughly 2.1% of Towle & Co.’s portfolio.
• Fox Factory’s latest quarter beat expectations, reporting EPS of $0.18 versus the $0.09 consensus and revenue of $368.66 million versus $351.75 million expected. Revenue rose 3.8% year over year, though the company still posted a negative net margin.
• Analyst sentiment is mixed, with an average rating of “Hold” and an average price target of $23.20. Recent calls ranged from Buy to Sell, while the stock was trading at $18.25 and down 1.9% on the day.

Towle & Co. cut its stake in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 36.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 331,580 shares of the company's stock after selling 192,494 shares during the period. Fox Factory makes up approximately 2.1% of Towle & Co.'s holdings, making the stock its 25th biggest position. Towle & Co. owned 0.79% of Fox Factory worth $5,458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. raised its position in shares of Fox Factory by 103.4% during the first quarter. Sei Investments Co. now owns 213,103 shares of the company's stock valued at $3,508,000 after buying an additional 108,321 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fox Factory by 26.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,271,969 shares of the company's stock valued at $20,937,000 after buying an additional 262,076 shares during the period. Angeles Wealth Management LLC grew its position in Fox Factory by 27.1% during the first quarter. Angeles Wealth Management LLC now owns 120,316 shares of the company's stock worth $1,980,000 after buying an additional 25,682 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in Fox Factory by 11.1% during the first quarter. Illinois Municipal Retirement Fund now owns 22,500 shares of the company's stock worth $370,000 after buying an additional 2,254 shares in the last quarter. Finally, Advisors Preferred LLC increased its stake in Fox Factory by 63.1% during the first quarter. Advisors Preferred LLC now owns 52,359 shares of the company's stock valued at $862,000 after acquiring an additional 20,259 shares during the period.

Fox Factory Stock Down 1.9%

NASDAQ FOXF opened at $18.25 on Friday. The company has a current ratio of 2.99, a quick ratio of 1.52 and a debt-to-equity ratio of 1.00. The stock's 50 day moving average is $17.62 and its two-hundred day moving average is $17.74. The company has a market capitalization of $765.40 million, a price-to-earnings ratio of -2.55, a PEG ratio of 0.73 and a beta of 1.37. Fox Factory Holding Corp. has a 1-year low of $13.08 and a 1-year high of $31.18.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.09 by $0.09. The business had revenue of $368.66 million during the quarter, compared to the consensus estimate of $351.75 million. Fox Factory had a positive return on equity of 5.20% and a negative net margin of 20.25%.Fox Factory's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. Equities analysts forecast that Fox Factory Holding Corp. will post 1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on FOXF shares. Needham & Company LLC reiterated a "buy" rating on shares of Fox Factory in a research report on Wednesday, June 3rd. Roth Capital restated a "neutral" rating and set a $20.00 price objective on shares of Fox Factory in a research report on Friday, May 8th. Zacks Research upgraded Fox Factory from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 3rd. Fox Advisors set a $20.00 target price on Fox Factory in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus set a $24.00 target price on Fox Factory in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Fox Factory presently has an average rating of "Hold" and an average price target of $23.20.

About Fox Factory

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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