Fox Factory (NASDAQ:FOXF) Releases Earnings Results, Misses Estimates By $0.07 EPS

Fox Factory (NASDAQ:FOXF) issued its quarterly earnings results on Thursday. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07), Briefing.com reports. The business had revenue of $359.10 million for the quarter, compared to analyst estimates of $366.86 million. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS.

Fox Factory Price Performance

Fox Factory stock opened at $34.02 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. Fox Factory has a one year low of $31.19 and a one year high of $86.14. The company has a market cap of $1.42 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 2.52 and a beta of 1.64. The business has a fifty day moving average of $39.61 and a two-hundred day moving average of $43.31.

Wall Street Analysts Forecast Growth

Several research firms have commented on FOXF. Truist Financial reduced their price objective on Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Friday. Roth Mkm cut their price target on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday. Robert W. Baird lowered their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday. B. Riley cut their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Bank of America reduced their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Fox Factory currently has an average rating of “Hold” and a consensus price target of $41.50.

Insider Activity

In related news, CEO Michael C. Dennison acquired 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price of $41.44 per share, with a total value of $198,912.00. Following the completion of the acquisition, the chief executive officer now owns 135,066 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Fox Factory Company Profile

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.