Fox Factory (NASDAQ:FOXF) Releases Q4 Earnings Guidance

Fox Factory (NASDAQ:FOXF) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $0.25-0.40 for the period, compared to the consensus EPS 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 also updated its FY 2024 guidance to 1.270-1.420 EPS.

Wall Street Analysts Forecast Growth

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

Fox Factory Trading Down 5.5 %

FOXF stock traded down $1.97 during trading on Friday, reaching $34.02. 3,211,660 shares of the stock traded hands, compared to its average volume of 342,784. The business’s 50 day moving average price is $39.47 and its 200-day moving average price is $43.26. The firm has a market capitalization of $1.42 billion, a PE ratio of 130.85, a P/E/G ratio of 2.45 and a beta of 1.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63. Fox Factory has a 52-week low of $31.19 and a 52-week high of $86.14.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $366.86 million. Fox Factory had a return on equity of 5.22% and a net margin of 0.78%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. As a group, sell-side analysts forecast that Fox Factory will post 1.56 earnings per share for the current year.

Insider Activity

In related news, CEO Michael C. Dennison purchased 4,800 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the acquisition, the chief executive officer now owns 135,066 shares in the company, valued at approximately $5,597,135.04. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

About Fox Factory

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.