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

Fox Factory Holding Corp. (NASDAQ:FOXF) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 2,880,000 shares, an increase of 27.4% from the April 30th total of 2,260,000 shares. Based on an average daily trading volume, of 774,200 shares, the short-interest ratio is presently 3.7 days. Approximately 7.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Fox Factory

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Fox Factory by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock worth $232,793,000 after acquiring an additional 228,339 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Fox Factory by 0.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock worth $364,229,000 after buying an additional 33,703 shares during the period. Clearbridge Investments LLC boosted its position in shares of Fox Factory by 0.6% in the first quarter. Clearbridge Investments LLC now owns 1,230,987 shares of the company’s stock worth $64,097,000 after buying an additional 7,468 shares during the period. FMR LLC boosted its position in shares of Fox Factory by 46.2% in the third quarter. FMR LLC now owns 1,136,720 shares of the company’s stock worth $112,626,000 after buying an additional 359,168 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its position in shares of Fox Factory by 0.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,134,439 shares of the company’s stock worth $76,552,000 after buying an additional 3,935 shares during the period.

Fox Factory Price Performance

Shares of FOXF stock traded up $0.78 during mid-day trading on Friday, hitting $46.62. 442,284 shares of the stock traded hands, compared to its average volume of 549,056. Fox Factory has a twelve month low of $37.98 and a twelve month high of $117.68. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.68. The company’s 50-day simple moving average is $44.89 and its 200-day simple moving average is $55.62. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $333.50 million for the quarter, compared to analysts’ expectations of $327.58 million. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. As a group, equities research analysts expect that Fox Factory will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FOXF has been the topic of several recent research reports. Robert W. Baird cut their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Bank of America cut their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. StockNews.com cut Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. B. Riley lowered their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Finally, Roth Mkm lowered their target price on Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.83.

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.