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

Fox Factory Holding Corp. (NASDAQ:FOXF) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 1,720,000 shares, a decrease of 24.2% from the April 30th total of 2,270,000 shares. Approximately 4.2% of the company’s shares are short sold. Based on an average daily volume of 678,400 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analyst Weigh In

FOXF has been the subject of several research reports. Jefferies Financial Group lowered their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Stifel Nicolaus dropped their price target on Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Robert W. Baird cut their price objective on Fox Factory from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Finally, Truist Financial boosted their target price on Fox Factory from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.43.

Fox Factory Trading Up 4.2%

NASDAQ:FOXF opened at $26.35 on Wednesday. The business’s 50-day moving average is $22.36 and its two-hundred day moving average is $26.29. The firm has a market capitalization of $1.10 billion, a PE ratio of 101.35, a price-to-earnings-growth ratio of 1.45 and a beta of 1.54. Fox Factory has a 12 month low of $17.95 and a 12 month high of $54.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $355.03 million for the quarter, compared to the consensus estimate of $330.71 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. Research analysts predict that Fox Factory will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of Fox Factory

A number of hedge funds have recently made changes to their positions in the company. RWWM Inc. grew its holdings in Fox Factory by 79.0% during the 1st quarter. RWWM Inc. now owns 3,576,560 shares of the company’s stock valued at $83,477,000 after purchasing an additional 1,579,029 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Fox Factory by 6,413.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,352,242 shares of the company’s stock worth $40,932,000 after acquiring an additional 1,331,480 shares during the last quarter. Nantahala Capital Management LLC acquired a new position in shares of Fox Factory in the fourth quarter worth about $19,252,000. William Blair Investment Management LLC lifted its stake in shares of Fox Factory by 17.1% in the fourth quarter. William Blair Investment Management LLC now owns 2,983,482 shares of the company’s stock worth $90,310,000 after acquiring an additional 434,998 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Fox Factory by 722.1% in the fourth quarter. Millennium Management LLC now owns 391,403 shares of the company’s stock valued at $11,848,000 after purchasing an additional 343,793 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.