Fox Factory Holding Corp. (NASDAQ:FOXF) Short Interest Up 25.0% in March

Fox Factory Holding Corp. (NASDAQ:FOXF) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,906,984 shares, a growth of 25.0% from the February 26th total of 2,326,425 shares. Approximately 7.0% of the company’s stock are short sold. Based on an average daily volume of 855,599 shares, the short-interest ratio is currently 3.4 days.

Hedge Funds Weigh In On Fox Factory

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOXF. First Bank & Trust raised its stake in Fox Factory by 8.1% during the 3rd quarter. First Bank & Trust now owns 8,345 shares of the company’s stock valued at $203,000 after acquiring an additional 623 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Fox Factory by 9.2% during the third quarter. KLP Kapitalforvaltning AS now owns 8,300 shares of the company’s stock valued at $202,000 after purchasing an additional 700 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Fox Factory by 0.6% during the second quarter. Legal & General Group Plc now owns 111,190 shares of the company’s stock valued at $2,884,000 after purchasing an additional 705 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in Fox Factory by 1.1% in the fourth quarter. Engineers Gate Manager LP now owns 73,895 shares of the company’s stock worth $1,264,000 after purchasing an additional 770 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Fox Factory by 12.3% in the second quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock worth $203,000 after purchasing an additional 858 shares during the period.

Fox Factory Stock Performance

Shares of Fox Factory stock traded up $0.35 during trading on Wednesday, hitting $16.81. 91,175 shares of the stock were exchanged, compared to its average volume of 679,169. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.37 and a current ratio of 2.86. Fox Factory has a 12 month low of $13.08 and a 12 month high of $31.18. The stock’s fifty day moving average is $17.99 and its 200 day moving average is $19.15. The stock has a market cap of $704.68 million, a PE ratio of -1.28 and a beta of 1.50.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The firm had revenue of $361.07 million for the quarter, compared to the consensus estimate of $353.88 million. During the same period last year, the firm posted $0.31 EPS. Fox Factory’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fox Factory will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. CJS Securities raised shares of Fox Factory to a “strong-buy” rating in a research report on Thursday, December 11th. Zacks Research upgraded Fox Factory from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Roth Mkm reduced their target price on Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $28.60.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.