Brookstone Capital Management Increases Stake in Fox Factory Holding Corp. (NASDAQ:FOXF)

Brookstone Capital Management boosted its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,340 shares of the company’s stock after purchasing an additional 903 shares during the period. Brookstone Capital Management’s holdings in Fox Factory were worth $382,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FOXF. Norges Bank bought a new stake in shares of Fox Factory in the 4th quarter valued at about $31,429,000. RWWM Inc. bought a new stake in shares of Fox Factory during the 4th quarter valued at about $7,969,000. Comerica Bank purchased a new position in shares of Fox Factory during the 3rd quarter worth approximately $10,089,000. Franklin Resources Inc. grew its stake in Fox Factory by 867.7% in the fourth quarter. Franklin Resources Inc. now owns 55,132 shares of the company’s stock worth $3,720,000 after purchasing an additional 49,435 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Fox Factory by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock valued at $286,279,000 after buying an additional 46,132 shares in the last quarter.

Insider Buying and Selling at Fox Factory

In other news, insider Thomas L. Fletcher sold 2,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $44.41, for a total value of $88,820.00. Following the transaction, the insider now directly owns 11,311 shares in the company, valued at approximately $502,321.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Fox Factory news, insider Thomas L. Fletcher sold 2,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $44.41, for a total value of $88,820.00. Following the transaction, the insider now owns 11,311 shares of the company’s stock, valued at $502,321.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael C. Dennison purchased 11,250 shares of the business’s stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $44.30 per share, with a total value of $498,375.00. Following the completion of the purchase, the chief executive officer now owns 130,266 shares in the company, valued at $5,770,783.80. The disclosure for this purchase can be found here. Company insiders own 0.30% of the company’s stock.

Fox Factory Trading Down 1.5 %

Shares of NASDAQ:FOXF opened at $47.48 on Tuesday. Fox Factory Holding Corp. has a 1 year low of $37.98 and a 1 year high of $117.68. The stock’s fifty day moving average price is $45.55 and its 200-day moving average price is $53.37. The company has a market cap of $1.98 billion, a P/E ratio of 26.53, a PEG ratio of 2.05 and a beta of 1.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.43 and a quick ratio of 1.85.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. The business had revenue of $333.50 million for the quarter, compared to analysts’ expectations of $327.58 million. During the same quarter in the prior year, the business earned $1.20 EPS. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. Sell-side analysts expect that Fox Factory Holding Corp. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FOXF shares. Stifel Nicolaus lowered their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. B. Riley cut their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Truist Financial lifted their price objective on Fox Factory from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Bank of America cut their target price on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Robert W. Baird lowered their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $47.67.

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.