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

Fox Factory Holding Corp. (NASDAQ:FOXF) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 3,140,000 shares, a decrease of 9.2% from the August 31st total of 3,460,000 shares. Currently, 7.6% of the shares of the company are short sold. Based on an average trading volume of 552,200 shares, the days-to-cover ratio is presently 5.7 days.

Insiders Place Their Bets

In other news, CEO Michael C. Dennison purchased 4,800 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was 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 in the company, valued at approximately $5,597,135.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fox Factory

Institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Fox Factory by 73.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 64,200 shares of the company’s stock valued at $3,094,000 after buying an additional 27,200 shares in the last quarter. Ariadne Wealth Management LP purchased a new position in Fox Factory in the second quarter worth about $512,000. Truist Financial Corp increased its stake in Fox Factory by 95.2% during the second quarter. Truist Financial Corp now owns 19,753 shares of the company’s stock worth $952,000 after acquiring an additional 9,632 shares during the last quarter. Creative Planning raised its position in Fox Factory by 117.5% during the second quarter. Creative Planning now owns 9,053 shares of the company’s stock valued at $436,000 after purchasing an additional 4,890 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in Fox Factory by 25.2% during the second 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 during the period.

Wall Street Analyst Weigh In

FOXF has been the subject of several recent analyst reports. Bank of America dropped their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Robert W. Baird dropped their price objective on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Truist Financial cut their target price on Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, B. Riley lowered their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.17.

Fox Factory Trading Down 0.7 %

Shares of Fox Factory stock opened at $41.50 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 2.92 and a beta of 1.63. Fox Factory has a twelve month low of $34.56 and a twelve month high of $99.75. The business has a 50-day moving average price of $41.89 and a 200-day moving average price of $44.68.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $348.49 million during the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. Equities research analysts anticipate that Fox Factory will post 1.56 EPS for the current fiscal year.

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.