Fox Factory Holding Corp. (NASDAQ:FOXF – Get Rating) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 1,990,000 shares, an increase of 8.2% from the September 15th total of 1,840,000 shares. Based on an average trading volume of 218,300 shares, the days-to-cover ratio is presently 9.1 days.
Fox Factory Trading Down 3.9 %
NASDAQ:FOXF traded down $3.23 on Wednesday, reaching $79.69. 1,945 shares of the company’s stock were exchanged, compared to its average volume of 219,999. The company has a quick ratio of 2.10, a current ratio of 3.38 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 0.72 and a beta of 1.70. The business has a fifty day moving average of $90.66 and a 200-day moving average of $87.69. Fox Factory has a 52-week low of $69.28 and a 52-week high of $190.29.
Fox Factory (NASDAQ:FOXF – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.16. Fox Factory had a net margin of 12.42% and a return on equity of 22.70%. The firm had revenue of $406.71 million for the quarter, compared to analyst estimates of $399.13 million. During the same period in the prior year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, analysts expect that Fox Factory will post 5.17 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have commented on FOXF. Truist Financial decreased their target price on shares of Fox Factory from $130.00 to $108.00 and set a “buy” rating on the stock in a research report on Wednesday, October 5th. Stifel Nicolaus raised shares of Fox Factory from a “hold” rating to a “buy” rating and upped their target price for the company from $88.00 to $115.00 in a research report on Friday, August 5th. Jefferies Financial Group cut their price target on shares of Fox Factory from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, June 24th. Finally, StockNews.com started coverage on shares of Fox Factory in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.00.
Insider Activity
In other news, Director Dudley W. Mendenhall sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $104.43, for a total transaction of $208,860.00. Following the transaction, the director now owns 10,110 shares of the company’s stock, valued at approximately $1,055,787.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Fox Factory news, Director Elizabeth A. Fetter sold 2,600 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $99.32, for a total value of $258,232.00. Following the transaction, the director now owns 2,056 shares of the company’s stock, valued at $204,201.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dudley W. Mendenhall sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $104.43, for a total transaction of $208,860.00. Following the completion of the transaction, the director now directly owns 10,110 shares in the company, valued at approximately $1,055,787.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,655 shares of company stock valued at $1,298,449. 0.17% of the stock is currently owned by insiders.
Institutional Trading of Fox Factory
A number of large investors have recently made changes to their positions in the company. FMR LLC raised its stake in Fox Factory by 138.6% during the 2nd quarter. FMR LLC now owns 693,019 shares of the company’s stock worth $55,815,000 after acquiring an additional 402,530 shares in the last quarter. Capital World Investors lifted its holdings in shares of Fox Factory by 431.9% in the 1st quarter. Capital World Investors now owns 329,000 shares of the company’s stock valued at $32,226,000 after purchasing an additional 267,147 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in shares of Fox Factory by 62.4% in the 1st quarter. Van Berkom & Associates Inc. now owns 628,183 shares of the company’s stock valued at $61,531,000 after purchasing an additional 241,423 shares during the period. Renaissance Technologies LLC purchased a new position in Fox Factory during the 1st quarter worth approximately $17,905,000. Finally, Conestoga Capital Advisors LLC increased its position in Fox Factory by 8.9% during the second quarter. Conestoga Capital Advisors LLC now owns 1,663,556 shares of the company’s stock worth $133,983,000 after buying an additional 136,085 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.
Fox Factory Company Profile
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and 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.
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