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

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

Fox Factory Stock Performance

NASDAQ FOXF traded up $0.42 on Tuesday, hitting $40.13. 406,176 shares of the company’s stock were exchanged, compared to its average volume of 594,245. The firm has a market cap 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. The firm’s 50-day moving average price is $43.16 and its two-hundred day moving average price is $45.31. Fox Factory has a fifty-two week low of $34.56 and a fifty-two week high of $104.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63.

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

Wall Street Analyst Weigh In

FOXF has been the topic of several research analyst reports. B. Riley cut their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird reduced 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. Truist Financial decreased 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 note on Friday, August 2nd. Finally, Bank of America dropped their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.17.

Insiders Place Their Bets

In other Fox Factory news, CEO Michael C. Dennison bought 4,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $41.44 per share, with a total value of $198,912.00. Following the transaction, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by company insiders.

Institutional Trading of Fox Factory

Several hedge funds and other institutional investors have recently made changes to their positions in FOXF. Ariadne Wealth Management LP acquired a new position in Fox Factory during the second quarter worth $512,000. Truist Financial Corp raised its stake in shares of Fox Factory by 95.2% during the 2nd quarter. Truist Financial Corp now owns 19,753 shares of the company’s stock worth $952,000 after buying an additional 9,632 shares during the last quarter. Creative Planning boosted its position in shares of Fox Factory by 117.5% in the 2nd quarter. Creative Planning now owns 9,053 shares of the company’s stock worth $436,000 after buying an additional 4,890 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Fox Factory by 25.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock worth $32,483,000 after buying an additional 135,542 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Fox Factory by 36.3% in the 2nd quarter. AQR Capital Management LLC now owns 7,132 shares of the company’s stock valued at $342,000 after acquiring an additional 1,901 shares during 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.