Fox Factory Holding Corp. (NASDAQ:FOXF) Sees Large Decrease in Short Interest

Fox Factory Holding Corp. (NASDAQ:FOXFGet Rating) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 2,360,000 shares, a decline of 5.6% from the February 13th total of 2,500,000 shares. Based on an average daily trading volume, of 206,000 shares, the days-to-cover ratio is currently 11.5 days.

Insider Buying and Selling at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison sold 7,500 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $115.00, for a total value of $862,500.00. Following the sale, the chief executive officer now directly owns 62,701 shares in the company, valued at $7,210,615. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Fox Factory

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Fox Factory by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,141,837 shares of the company’s stock worth $327,537,000 after purchasing an additional 12,523 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Fox Factory by 2.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,654,331 shares of the company’s stock worth $209,919,000 after purchasing an additional 51,124 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Fox Factory by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,600,160 shares of the company’s stock worth $156,736,000 after purchasing an additional 4,061 shares in the last quarter. State Street Corp boosted its holdings in Fox Factory by 1.4% during the 3rd quarter. State Street Corp now owns 1,316,181 shares of the company’s stock valued at $104,084,000 after acquiring an additional 17,964 shares during the period. Finally, Geneva Capital Management LLC boosted its holdings in Fox Factory by 3.9% during the 3rd quarter. Geneva Capital Management LLC now owns 1,130,967 shares of the company’s stock valued at $89,437,000 after acquiring an additional 42,607 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FOXF has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price objective on Fox Factory from $115.00 to $133.00 in a research note on Monday, December 5th. Jefferies Financial Group boosted their price objective on Fox Factory from $120.00 to $135.00 in a research note on Monday, December 5th. Robert W. Baird boosted their price objective on Fox Factory from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, February 24th. TheStreet upgraded Fox Factory from a “c+” rating to a “b” rating in a research note on Tuesday, March 7th. Finally, StockNews.com initiated coverage on Fox Factory in a research note on Thursday. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.25.

Fox Factory Price Performance

Shares of NASDAQ FOXF opened at $116.77 on Friday. The firm has a market capitalization of $4.94 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.93 and a beta of 1.85. The company has a quick ratio of 1.73, a current ratio of 3.08 and a debt-to-equity ratio of 0.18. The stock’s 50-day simple moving average is $115.40 and its two-hundred day simple moving average is $99.81. Fox Factory has a twelve month low of $69.28 and a twelve month high of $127.54.

Fox Factory (NASDAQ:FOXFGet Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.21. Fox Factory had a return on equity of 22.55% and a net margin of 12.81%. The firm had revenue of $408.60 million during the quarter, compared to analysts’ expectations of $383.86 million. During the same period in the prior year, the business earned $1.06 EPS. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, equities analysts anticipate that Fox Factory will post 5.36 EPS for the current fiscal year.

About Fox Factory

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Fox Factory Holding Corp. engages in designing, engineering, manufacturing and marketing performance ride dynamics products. The firm offers bicycles, side-by-sides and on-road vehicles with off-road capabilities, off-road vehicles and trucks, all – terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles.

Further Reading

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