Fox Factory Holding Corp. (NASDAQ:FOXF) Sees Significant Drop in Short Interest

Fox Factory Holding Corp. (NASDAQ:FOXF - Get Free Report) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 2,230,000 shares, a drop of 20.9% from the December 31st total of 2,820,000 shares. Based on an average trading volume of 710,400 shares, the short-interest ratio is presently 3.1 days. Currently, 5.4% of the company's shares are short sold.

Hedge Funds Weigh In On Fox Factory

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Fox Factory by 86.0% during the third quarter. GAMMA Investing LLC now owns 599 shares of the company's stock worth $25,000 after acquiring an additional 277 shares during the period. Signaturefd LLC increased its position in shares of Fox Factory by 301.1% during the third quarter. Signaturefd LLC now owns 726 shares of the company's stock worth $30,000 after acquiring an additional 545 shares during the period. nVerses Capital LLC purchased a new position in shares of Fox Factory during the third quarter worth approximately $42,000. KBC Group NV increased its holdings in Fox Factory by 36.5% during the third quarter. KBC Group NV now owns 1,377 shares of the company's stock valued at $57,000 after buying an additional 368 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in Fox Factory during the second quarter valued at approximately $268,000.

Fox Factory Trading Down 5.2 %

NASDAQ FOXF traded down $1.41 during trading on Monday, hitting $25.91. The stock had a trading volume of 456,017 shares, compared to its average volume of 439,860. 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 capitalization of $1.08 billion, a price-to-earnings ratio of 99.66, a P/E/G ratio of 1.50 and a beta of 1.58. Fox Factory has a one year low of $25.59 and a one year high of $69.46. The stock has a 50 day simple moving average of $29.95 and a 200 day simple moving average of $36.39.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $359.10 million during the quarter, compared to the consensus estimate of $366.86 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 EPS. Sell-side analysts predict that Fox Factory will post 1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FOXF. Stifel Nicolaus raised shares of Fox Factory from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a report on Wednesday, December 11th. Roth Mkm lowered their price target on shares of Fox Factory from $45.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Truist Financial lowered their price target on shares of Fox Factory from $42.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Robert W. Baird lowered their price target on shares of Fox Factory from $45.00 to $38.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Finally, StockNews.com raised shares of Fox Factory from a "sell" rating to a "hold" rating in a report on Thursday, November 28th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.33.

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.