Fox Factory Holding Corp. (NASDAQ:FOXF) Short Interest Update

Fox Factory Holding Corp. (NASDAQ:FOXF) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 3,140,000 shares, a decline of 9.2% from the August 31st total of 3,460,000 shares. Currently, 7.6% of the shares of the company are short sold. Based on an average daily volume of 552,200 shares, the days-to-cover ratio is presently 5.7 days.

Fox Factory Price Performance

NASDAQ:FOXF traded up $0.20 during mid-day trading on Friday, reaching $41.81. 491,237 shares of the stock were exchanged, compared to its average volume of 598,168. Fox Factory has a 1-year low of $34.56 and a 1-year high of $100.82. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $1.74 billion, a PE ratio of 23.36, a PEG ratio of 2.92 and a beta of 1.63. The business has a fifty day moving average price of $42.01 and a 200 day moving average price of $44.73.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $348.49 million for the quarter, compared to the consensus estimate of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. Research analysts expect that Fox Factory will post 1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FOXF has been the subject of several recent research reports. Bank of America lowered their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Robert W. Baird lowered their price target on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. B. Riley cut their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Truist Financial decreased their price objective on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.17.

Insider Buying and Selling at Fox Factory

In related news, CEO Michael C. Dennison bought 4,800 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now owns 135,066 shares of the company’s stock, valued at approximately $5,597,135.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of Fox Factory

Hedge funds have recently bought and sold shares of the company. Norden Group LLC increased its stake in Fox Factory by 3,378.1% in the 1st quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after buying an additional 278,185 shares during the period. Sei Investments Co. lifted its holdings in shares of Fox Factory by 6.9% during the first quarter. Sei Investments Co. now owns 223,173 shares of the company’s stock worth $11,621,000 after buying an additional 14,328 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Fox Factory by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock valued at $286,279,000 after acquiring an additional 46,132 shares during the period. Wesbanco Bank Inc. acquired a new stake in shares of Fox Factory in the second quarter worth $626,000. Finally, SG Americas Securities LLC bought a new position in Fox Factory during the first quarter worth $612,000.

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.