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

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

Insider Transactions at Fox Factory

In other news, CEO Michael C. Dennison sold 7,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 62,701 shares of the company’s stock, valued at approximately $7,210,615. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Fox Factory

Several institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System boosted its stake in Fox Factory by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the company’s stock valued at $1,031,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System boosted its stake in Fox Factory by 0.9% during the 4th quarter. State of Michigan Retirement System now owns 10,789 shares of the company’s stock valued at $984,000 after purchasing an additional 100 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its stake in Fox Factory by 4.2% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,610 shares of the company’s stock valued at $238,000 after purchasing an additional 104 shares during the last quarter. LPL Financial LLC boosted its stake in Fox Factory by 1.1% during the 2nd quarter. LPL Financial LLC now owns 9,617 shares of the company’s stock valued at $806,000 after purchasing an additional 105 shares during the last quarter. Finally, Spire Wealth Management boosted its stake in shares of Fox Factory by 10.7% in the 4th quarter. Spire Wealth Management now owns 1,276 shares of the company’s stock worth $116,000 after buying an additional 123 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial increased their target price on Fox Factory from $115.00 to $125.00 in a research report on Friday, February 24th. Robert W. Baird increased their target price on Fox Factory from $100.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, February 24th. StockNews.com initiated coverage on Fox Factory in a research report on Thursday. They set a “hold” rating for the company. Jefferies Financial Group raised their price objective on Fox Factory from $120.00 to $135.00 in a research report on Monday, December 5th. Finally, TheStreet raised Fox Factory from a “c+” rating to a “b” rating in a research report on Tuesday, March 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.25.

Fox Factory Stock Up 0.6 %

FOXF stock opened at $116.77 on Friday. Fox Factory has a twelve month low of $69.28 and a twelve month high of $127.54. 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 firm has a market cap of $4.94 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.85. The business has a 50 day moving average of $115.40 and a 200 day moving average of $99.81.

Fox Factory (NASDAQ:FOXFGet Rating) last issued its earnings results on Thursday, February 23rd. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.22 by $0.21. Fox Factory had a return on equity of 22.55% and a net margin of 12.81%. The business had revenue of $408.60 million for the quarter, compared to the consensus estimate of $383.86 million. During the same period last year, the business posted $1.06 EPS. The company’s revenue was up 19.4% compared to the same quarter last year. On average, research analysts forecast 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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