Short Interest in Fox Factory Holding Corp. (NASDAQ:FOXF) Increases By 14.2%

Fox Factory Holding Corp. (NASDAQ:FOXF) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 2,090,000 shares, an increase of 14.2% from the March 15th total of 1,830,000 shares. Currently, 5.0% of the shares of the company are sold short. Based on an average trading volume of 620,700 shares, the short-interest ratio is currently 3.4 days.

Institutional Investors Weigh In On Fox Factory

Several institutional investors have recently made changes to their positions in the stock. Raymond James & Associates increased its holdings in shares of Fox Factory by 4.4% in the first quarter. Raymond James & Associates now owns 21,145 shares of the company’s stock worth $2,071,000 after purchasing an additional 888 shares during the period. HighTower Advisors LLC increased its stake in Fox Factory by 21.8% in the first quarter. HighTower Advisors LLC now owns 3,363 shares of the company’s stock valued at $328,000 after acquiring an additional 601 shares during the last quarter. Bank of Montreal Can increased its stake in Fox Factory by 10.7% in the first quarter. Bank of Montreal Can now owns 3,626 shares of the company’s stock valued at $380,000 after acquiring an additional 351 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Fox Factory in the first quarter valued at $946,000. Finally, Rhumbline Advisers increased its stake in Fox Factory by 1.8% in the first quarter. Rhumbline Advisers now owns 114,760 shares of the company’s stock valued at $11,241,000 after acquiring an additional 2,044 shares during the last quarter.

Fox Factory Stock Performance

Shares of NASDAQ:FOXF traded down $0.35 during trading on Tuesday, hitting $41.83. 520,546 shares of the company were exchanged, compared to its average volume of 609,775. The company has a market cap of $1.76 billion, a PE ratio of 14.68, a P/E/G ratio of 3.56 and a beta of 1.64. The stock has a 50 day moving average of $52.75 and a 200 day moving average of $64.25. Fox Factory has a 52-week low of $41.14 and a 52-week high of $117.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.70 and a quick ratio of 1.91.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, February 22nd. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.34). The company had revenue of $332.50 million for the quarter, compared to analysts’ expectations of $327.07 million. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The company’s revenue was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. As a group, equities research analysts predict that Fox Factory will post 2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FOXF shares. StockNews.com lowered Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Truist Financial dropped their price objective on Fox Factory from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Stifel Nicolaus dropped their price objective on Fox Factory from $69.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Finally, Bank of America downgraded Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.20.

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.