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

Fox Factory Holding Corp. (NASDAQ:FOXF) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,720,000 shares, a drop of 24.2% from the April 30th total of 2,270,000 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily volume of 678,400 shares, the short-interest ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

FOXF has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on Fox Factory from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, April 4th. Truist Financial upped their price objective on Fox Factory from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Jefferies Financial Group cut their price objective on Fox Factory from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Stifel Nicolaus reduced their target price on Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.43.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Fox Factory in the fourth quarter worth $2,543,000. Advantage Alpha Capital Partners LP boosted its stake in shares of Fox Factory by 30.8% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 68,221 shares of the company’s stock worth $2,065,000 after purchasing an additional 16,081 shares during the last quarter. Caprock Group LLC grew its position in shares of Fox Factory by 133.7% in the fourth quarter. Caprock Group LLC now owns 22,396 shares of the company’s stock valued at $678,000 after purchasing an additional 12,813 shares during the period. Mutual of America Capital Management LLC increased its stake in Fox Factory by 1,569.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 104,657 shares of the company’s stock valued at $3,168,000 after purchasing an additional 98,387 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Fox Factory by 13.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,745 shares of the company’s stock valued at $18,850,000 after purchasing an additional 73,110 shares during the last quarter.

Fox Factory Stock Performance

Shares of FOXF stock opened at $26.35 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The stock has a market cap of $1.10 billion, a PE ratio of 101.35, a P/E/G ratio of 1.45 and a beta of 1.54. Fox Factory has a 1 year low of $17.95 and a 1 year high of $54.86. The stock has a fifty day moving average price of $22.36 and a 200 day moving average price of $26.29.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $355.03 million during the quarter, compared to the consensus estimate of $330.71 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. Sell-side analysts forecast that Fox Factory will post 1.31 earnings per share for the current fiscal year.

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.