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

Fox Factory Holding Corp. (NASDAQ:FOXF) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 2,600,000 shares, a growth of 24.4% from the March 31st total of 2,090,000 shares. Based on an average daily volume of 667,000 shares, the days-to-cover ratio is currently 3.9 days. Approximately 6.2% of the shares of the stock are sold short.

Fox Factory Trading Down 3.2 %

FOXF stock traded down $1.30 during midday trading on Tuesday, hitting $38.92. 909,451 shares of the company’s stock were exchanged, compared to its average volume of 607,081. Fox Factory has a 1-year low of $37.98 and a 1-year high of $117.68. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1.63 billion, a PE ratio of 14.11, a P/E/G ratio of 3.40 and a beta of 1.64. The business has a 50-day simple moving average of $48.10 and a two-hundred day simple moving average of $60.80.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.34). The business 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 firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 earnings per share. On average, sell-side analysts predict that Fox Factory will post 2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. StockNews.com cut Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Bank of America lowered Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Friday, February 23rd. Finally, Truist Financial dropped their price objective on shares of Fox Factory from $90.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Fox Factory presently has a consensus rating of “Hold” and an average target price of $66.00.

Institutional Trading of Fox Factory

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOXF. Operose Advisors LLC acquired a new stake in shares of Fox Factory in the third quarter valued at $37,000. Assetmark Inc. boosted its holdings in Fox Factory by 171.4% during the 3rd quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after acquiring an additional 240 shares during the period. Quest Partners LLC acquired a new position in Fox Factory in the 4th quarter valued at about $31,000. GAMMA Investing LLC purchased a new stake in Fox Factory during the fourth quarter worth about $29,000. Finally, CWM LLC lifted its position in shares of Fox Factory by 54.1% during the fourth quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after purchasing an additional 219 shares in the last quarter.

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.