Fox Factory (NASDAQ:FOXF) Releases Q4 Earnings Guidance

Fox Factory (NASDAQ:FOXF) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.25-0.40 for the period, compared to the consensus earnings per share 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.

Fox Factory Price Performance

FOXF traded down $1.97 during trading on Friday, reaching $34.02. The stock had a trading volume of 3,211,660 shares, compared to its average volume of 342,784. The stock has a 50 day moving average of $39.47 and a two-hundred day moving average of $43.26. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 130.85, a price-to-earnings-growth ratio of 2.45 and a beta of 1.65. Fox Factory has a 1-year low of $31.19 and a 1-year high of $86.14.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $359.10 million during the quarter, compared to analyst estimates of $366.86 million. Fox Factory had a net margin of 0.78% and a return on equity of 5.22%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. As a group, equities analysts anticipate that Fox Factory will post 1.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FOXF. Robert W. Baird dropped their target price on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday. Roth Mkm dropped their price target on Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday. B. Riley reduced their price objective 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. Bank of America cut 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. Finally, Truist Financial reduced their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.50.

Insider Buying and Selling at Fox Factory

In related news, CEO Michael C. Dennison purchased 4,800 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 135,066 shares in the company, valued at $5,597,135.04. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.