Fox Factory Holding Corp. (NASDAQ:FOXF) Short Interest Up 25.0% in March

Fox Factory Holding Corp. (NASDAQ:FOXF) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,906,984 shares, a growth of 25.0% from the February 26th total of 2,326,425 shares. Currently, 7.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 855,599 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Ratings Changes

A number of research analysts have commented on FOXF shares. Roth Mkm reduced their price target on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fox Factory in a research note on Thursday, January 22nd. CJS Securities raised shares of Fox Factory to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Zacks Research upgraded shares of Fox Factory from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.60.

Fox Factory Trading Down 2.0%

FOXF traded down $0.33 on Monday, hitting $16.53. 454,509 shares of the company were exchanged, compared to its average volume of 692,560. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.37 and a current ratio of 2.86. The firm has a fifty day simple moving average of $18.10 and a two-hundred day simple moving average of $19.31. The stock has a market capitalization of $693.10 million, a PE ratio of -1.27 and a beta of 1.50. Fox Factory has a 12 month low of $13.08 and a 12 month high of $31.18.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Fox Factory had a positive return on equity of 5.06% and a negative net margin of 37.11%.The firm had revenue of $361.07 million during the quarter, compared to the consensus estimate of $353.88 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts expect that Fox Factory will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Fox Factory

Several institutional investors have recently added to or reduced their stakes in FOXF. First Horizon Corp bought a new position in shares of Fox Factory during the third quarter valued at about $25,000. Federated Hermes Inc. bought a new stake in shares of Fox Factory in the third quarter worth about $25,000. Hantz Financial Services Inc. grew its stake in shares of Fox Factory by 188.1% in the fourth quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock worth $35,000 after purchasing an additional 1,343 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Fox Factory by 108.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after purchasing an additional 1,079 shares during the period. Finally, Covestor Ltd raised its position in Fox Factory by 693.3% during the 4th quarter. Covestor Ltd now owns 2,943 shares of the company’s stock valued at $50,000 after purchasing an additional 2,572 shares during the last quarter.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.