Fox Factory Holding Corp. (NASDAQ:FOXF) Short Interest Down 9.2% in August

Fox Factory Holding Corp. (NASDAQ:FOXF) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 3,460,000 shares, a decrease of 9.2% from the August 15th total of 3,810,000 shares. Currently, 8.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 603,100 shares, the days-to-cover ratio is currently 5.7 days.

Analysts Set New Price Targets

Several analysts have commented on FOXF shares. Truist Financial lowered their target price on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Robert W. Baird lowered their price objective on 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 reduced their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, B. Riley lowered their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Fox Factory currently has a consensus rating of “Hold” and a consensus price target of $46.17.

Fox Factory Trading Up 1.1 %

Shares of Fox Factory stock traded up $0.42 during trading hours on Tuesday, reaching $40.13. The stock had a trading volume of 406,176 shares, compared to its average volume of 594,245. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 2.48 and a beta of 1.63. Fox Factory has a 1 year low of $34.56 and a 1 year high of $104.41. 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 50 day simple moving average of $43.16 and a two-hundred day simple moving average of $45.31.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating the consensus estimate 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%. During the same quarter last year, the firm posted $1.21 earnings per share. Fox Factory’s revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Fox Factory will post 1.56 earnings per share for the current year.

Insider Activity at Fox Factory

In related news, CEO Michael C. Dennison acquired 4,800 shares of Fox Factory stock in a transaction dated Tuesday, August 6th. The shares were acquired 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 directly owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fox Factory

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC purchased a new position in Fox Factory in the 4th quarter worth approximately $31,000. YHB Investment Advisors Inc. purchased a new position in shares of Fox Factory in the first quarter valued at $42,000. TFO Wealth Partners LLC grew its holdings in Fox Factory by 14,180.0% during the 4th quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock valued at $48,000 after purchasing an additional 709 shares in the last quarter. Fifth Third Bancorp increased its stake in Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after buying an additional 261 shares during the period. Finally, Covestor Ltd lifted its holdings in Fox Factory by 31.8% in the 1st quarter. Covestor Ltd now owns 1,518 shares of the company’s stock worth $79,000 after buying an additional 366 shares in the last quarter.

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.