Fox Factory (NASDAQ:FOXF) Releases Q4 Earnings Guidance

Fox Factory (NASDAQ:FOXF) issued an update on its fourth quarter earnings guidance on Thursday morning. 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.

Wall Street Analysts Forecast Growth

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

Fox Factory Stock Down 5.5 %

Shares of Fox Factory stock traded down $1.97 during trading hours on Friday, reaching $34.02. 3,211,660 shares of the company’s stock were exchanged, compared to its average volume of 342,784. 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 company has a 50 day moving average of $39.47 and a two-hundred day moving average of $43.26. The stock has a market cap of $1.42 billion, a P/E ratio of 130.85, a P/E/G ratio of 2.45 and a beta of 1.65. Fox Factory has a fifty-two week low of $31.19 and a fifty-two week high of $86.14.

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

Insiders Place Their Bets

In other news, CEO Michael C. Dennison acquired 4,800 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $41.44 per share, with a total value of $198,912.00. Following the transaction, the chief executive officer now directly owns 135,066 shares in the company, valued at approximately $5,597,135.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.