Fox Factory (NASDAQ:FOXF) Issues Q4 2024 Earnings Guidance

Fox Factory (NASDAQ:FOXF) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.250-0.400 for the period, compared to the consensus estimate of 0.490. The company issued revenue guidance of $300.0 million-$340.0 million, compared to the consensus revenue estimate of $385.6 million. Fox Factory also updated its FY 2024 guidance to 1.270-1.420 EPS.

Wall Street Analysts Forecast Growth

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

Fox Factory Stock Performance

Shares of NASDAQ:FOXF traded down $1.06 on Thursday, reaching $35.99. The company’s stock had a trading volume of 723,294 shares, compared to its average volume of 568,231. 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 $34.56 and a 52-week high of $86.14. The stock’s 50-day moving average is $39.69 and its two-hundred day moving average is $43.36. The stock has a market capitalization of $1.50 billion, a P/E ratio of 20.11, a PEG ratio of 2.55 and a beta of 1.64.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The business had revenue of $348.49 million for the quarter, compared to analyst estimates of $346.22 million. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Fox Factory will post 1.56 EPS for the current year.

Insider Transactions at Fox Factory

In other news, CEO Michael C. Dennison purchased 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $41.44 per share, with a total value of $198,912.00. Following the completion of the acquisition, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at approximately $5,597,135.04. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.