Fox Factory (NASDAQ:FOXF) Releases Q4 Earnings Guidance

by · The Markets Daily

Fox Factory (NASDAQ:FOXF – Get Free Report) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.25-0.40 for the period, compared to the consensus estimate of $0.49. The company issued revenue guidance of $300-340 million, compared to the consensus revenue estimate of $385.63 million.

Fox Factory Stock Performance

Shares of NASDAQ FOXF traded down $1.06 during trading on Thursday, reaching $35.99. 702,404 shares of the company traded hands, compared to its average volume of 568,137. Fox Factory has a 12-month low of $34.56 and a 12-month high of $86.14. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.50 billion, a P/E ratio of 20.69, a PEG ratio of 2.55 and a beta of 1.64. The firm’s fifty day simple moving average is $39.69 and its 200 day simple moving average is $43.36.

Fox Factory (NASDAQ:FOXF – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $348.49 million during the quarter, compared to analyst estimates of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The business’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. As a group, research analysts anticipate that Fox Factory will post 1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FOXF shares. Bank of America dropped their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. B. Riley reduced their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Truist Financial dropped their price target on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird decreased their price objective on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.17.

Get Our Latest Research Report on Fox Factory

Insider Buying and Selling at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison bought 4,800 shares of Fox Factory stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at approximately $5,597,135.04. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by insiders.

Fox Factory Company Profile

(Get Free Report)

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.

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