The Manufacturers Life Insurance Company Takes Position in Fox Factory Holding Corp. $FOXF

The Manufacturers Life Insurance Company purchased a new position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 946,325 shares of the company’s stock, valued at approximately $16,035,000. The Manufacturers Life Insurance Company owned 2.25% of Fox Factory at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quantbot Technologies LP acquired a new position in Fox Factory in the second quarter valued at approximately $48,000. C M Bidwell & Associates Ltd. acquired a new stake in Fox Factory during the 2nd quarter worth $278,000. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Fox Factory during the 2nd quarter valued at $302,000. BlackRock Inc. bought a new stake in shares of Fox Factory during the 2nd quarter valued at $109,706,000. Finally, Deutsche Bank AG acquired a new position in shares of Fox Factory in the 2nd quarter valued at $1,637,000.

Fox Factory Stock Performance

Shares of Fox Factory stock opened at $20.56 on Friday. The company has a market capitalization of $864.14 million, a PE ratio of -2.88, a PEG ratio of 0.60 and a beta of 1.35. Fox Factory Holding Corp. has a 12 month low of $13.08 and a 12 month high of $29.97. The company has a current ratio of 3.10, a quick ratio of 1.55 and a debt-to-equity ratio of 0.96. The stock’s fifty day simple moving average is $19.06 and its 200 day simple moving average is $18.02.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, August 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. Fox Factory had a positive return on equity of 5.57% and a negative net margin of 20.39%.The firm had revenue of $358.12 million during the quarter, compared to analysts’ expectations of $352.94 million. During the same period in the previous year, the firm earned $0.40 earnings per share. The company’s revenue was down 4.5% on a year-over-year basis. On average, research analysts predict that Fox Factory Holding Corp. will post 1.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Roth Capital reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Fox Factory in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Fox Factory in a research note on Friday, August 7th. Needham & Company LLC restated a “buy” rating on shares of Fox Factory in a report on Wednesday, June 3rd. Bank of America lowered Fox Factory from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $24.00 to $20.00 in a research report on Tuesday, June 30th. Finally, Fox Advisors set a $20.00 price target on Fox Factory in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fox Factory currently has a consensus rating of “Hold” and a consensus price target of $21.00.

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.