Fox Factory Holding Corp. (NASDAQ:FOXF) Sees Significant Increase in Short Interest

Fox Factory Holding Corp. (NASDAQ:FOXF) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,820,000 shares, a growth of 11.9% from the November 30th total of 2,520,000 shares. Approximately 6.8% of the shares of the stock are sold short. Based on an average trading volume of 696,600 shares, the days-to-cover ratio is presently 4.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. raised its position in Fox Factory by 25,005.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after purchasing an additional 1,578,822 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Fox Factory in the second quarter valued at approximately $53,294,000. JPMorgan Chase & Co. grew its holdings in Fox Factory by 271.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company’s stock worth $7,921,000 after acquiring an additional 139,512 shares in the last quarter. Disciplined Growth Investors Inc. MN purchased a new stake in shares of Fox Factory in the 3rd quarter valued at approximately $5,743,000. Finally, D. E. Shaw & Co. Inc. raised its holdings 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 valued at $32,483,000 after purchasing an additional 135,542 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on FOXF. StockNews.com raised shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Bank of America dropped their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Roth Mkm dropped their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Truist Financial reduced their target price on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.67.

Fox Factory Trading Up 0.7 %

FOXF traded up $0.21 on Monday, hitting $29.83. The company had a trading volume of 469,533 shares, compared to its average volume of 622,161. Fox Factory has a 1 year low of $28.33 and a 1 year high of $70.13. The company has a current ratio of 3.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $32.91 and its 200 day moving average price is $39.80. The firm has a market cap of $1.24 billion, a P/E ratio of 114.74, a PEG ratio of 2.67 and a beta of 1.60.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. As a group, equities analysts expect that Fox Factory will post 1.31 earnings per share 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.