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

Fox Factory Holding Corp. (NASDAQ:FOXF) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 3,140,000 shares, a decline of 9.2% from the August 31st total of 3,460,000 shares. Approximately 7.6% of the company’s shares are short sold. Based on an average daily trading volume, of 552,200 shares, the short-interest ratio is presently 5.7 days.

Insider Buying and Selling at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison purchased 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $41.44 per share, with a total value of $198,912.00. Following the purchase, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of Fox Factory by 26.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after purchasing an additional 261 shares during the last quarter. Covestor Ltd raised its stake in Fox Factory by 31.8% in the first quarter. Covestor Ltd now owns 1,518 shares of the company’s stock valued at $79,000 after buying an additional 366 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in Fox Factory by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 37,006 shares of the company’s stock worth $1,927,000 after acquiring an additional 395 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Fox Factory by 4.7% during the first quarter. ProShare Advisors LLC now owns 9,737 shares of the company’s stock worth $507,000 after acquiring an additional 440 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Fox Factory in the 4th quarter valued at approximately $31,000.

Fox Factory Price Performance

NASDAQ FOXF opened at $41.50 on Tuesday. The company has a market cap of $1.73 billion, a PE ratio of 23.18, a P/E/G ratio of 2.92 and a beta of 1.63. Fox Factory has a 52-week low of $34.56 and a 52-week high of $99.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. The firm’s 50 day moving average price is $41.89 and its 200-day moving average price is $44.68.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $346.22 million. During the same period in the previous year, the company posted $1.21 EPS. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. Sell-side analysts forecast that Fox Factory will post 1.56 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.