Short Interest in Fox Factory Holding Corp. (NASDAQ:FOXF) Drops By 9.2%

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

Insider Activity at Fox Factory

In other news, CEO Michael C. Dennison purchased 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $41.44 per share, with a total value of $198,912.00. Following the acquisition, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at approximately $5,597,135.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Fox Factory

A number of institutional investors have recently made changes to their positions in FOXF. Norges Bank bought a new stake in shares of Fox Factory in the fourth quarter worth $31,429,000. Quest Partners LLC acquired a new position in Fox Factory during the fourth quarter worth $31,000. Franklin Resources Inc. increased its holdings in Fox Factory by 867.7% during the fourth quarter. Franklin Resources Inc. now owns 55,132 shares of the company’s stock worth $3,720,000 after buying an additional 49,435 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Fox Factory during the fourth quarter worth $1,423,000. Finally, TFO Wealth Partners LLC increased its holdings in Fox Factory by 14,180.0% during the fourth quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock worth $48,000 after buying an additional 709 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. B. Riley lowered their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. 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 research report on Friday, August 2nd. Bank of America lowered their price target 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. Finally, Truist Financial lowered their price target 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.17.

Fox Factory Trading Up 0.5 %

NASDAQ FOXF traded up $0.20 during trading on Friday, reaching $41.81. 491,237 shares of the stock traded hands, compared to its average volume of 598,168. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.92 and a beta of 1.63. The stock’s 50-day moving average price is $42.01 and its 200 day moving average price is $44.73. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. Fox Factory has a fifty-two week low of $34.56 and a fifty-two week high of $100.82.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $348.49 million for the quarter, compared to analyst estimates 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 was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. Analysts predict that Fox Factory will post 1.56 EPS for the current year.

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.