Short Interest in Fox Factory Holding Corp. (NASDAQ:FOXF) Increases By 14.2%

Fox Factory Holding Corp. (NASDAQ:FOXF) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 2,090,000 shares, a growth of 14.2% from the March 15th total of 1,830,000 shares. Based on an average trading volume of 620,700 shares, the days-to-cover ratio is presently 3.4 days. Approximately 5.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Truist Financial decreased their price objective on Fox Factory from $90.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 23rd. StockNews.com cut Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Stifel Nicolaus reduced their price target on Fox Factory from $69.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Finally, Bank of America cut Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.20.

Fox Factory Stock Performance

Shares of FOXF traded down $0.35 during mid-day trading on Tuesday, reaching $41.83. The company’s stock had a trading volume of 520,546 shares, compared to its average volume of 609,775. Fox Factory has a 1-year low of $41.14 and a 1-year high of $117.68. The stock has a market cap of $1.76 billion, a P/E ratio of 14.68, a PEG ratio of 3.56 and a beta of 1.64. The business has a 50-day simple moving average of $52.75 and a two-hundred day simple moving average of $64.25. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.34). The firm had revenue of $332.50 million for the quarter, compared to analyst estimates of $327.07 million. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The business’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share. As a group, equities research analysts anticipate that Fox Factory will post 2.42 earnings per share for the current fiscal year.

Institutional Trading of Fox Factory

Hedge funds have recently added to or reduced their stakes in the company. FIL Ltd increased its stake in Fox Factory by 99.4% during the 4th quarter. FIL Ltd now owns 1,695,034 shares of the company’s stock worth $114,381,000 after acquiring an additional 844,972 shares during the period. Norges Bank bought a new position in Fox Factory during the 4th quarter worth $31,429,000. FMR LLC increased its stake in Fox Factory by 46.2% during the 3rd quarter. FMR LLC now owns 1,136,720 shares of the company’s stock worth $112,626,000 after acquiring an additional 359,168 shares during the period. Bamco Inc. NY bought a new position in Fox Factory during the 3rd quarter worth $27,247,000. Finally, Capital World Investors increased its stake in Fox Factory by 431.9% during the 1st quarter. Capital World Investors now owns 329,000 shares of the company’s stock worth $32,226,000 after acquiring an additional 267,147 shares during the period.

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.