B. Riley Weighs in on Fox Factory Holding Corp.’s Q4 2024 Earnings (NASDAQ:FOXF)

Fox Factory Holding Corp. (NASDAQ:FOXF) – Stock analysts at B. Riley increased their Q4 2024 earnings estimates for Fox Factory in a research report issued to clients and investors on Tuesday, July 30th. B. Riley analyst A. Glaessgen now anticipates that the company will post earnings per share of $0.86 for the quarter, up from their previous estimate of $0.73. B. Riley currently has a “Neutral” rating and a $45.00 target price on the stock. The consensus estimate for Fox Factory’s current full-year earnings is $2.40 per share.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $348.49 million during the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. Fox Factory’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 earnings per share.

A number of other research firms have also recently commented on FOXF. Stifel Nicolaus reduced their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Roth Mkm reduced their price target on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Bank of America reduced their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Robert W. Baird reduced their price target on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Friday. Finally, Truist Financial reduced their price objective on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday. One investment 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. According to data from MarketBeat, Fox Factory has an average rating of “Hold” and a consensus price target of $47.00.

Fox Factory Trading Down 16.3 %

NASDAQ:FOXF opened at $41.48 on Thursday. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.27 and a beta of 1.66. The firm has a fifty day simple moving average of $47.85 and a two-hundred day simple moving average of $50.69. Fox Factory has a 12 month low of $37.98 and a 12 month high of $117.68.

Institutional Trading of Fox Factory

Several hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in Fox Factory by 26.0% in the second quarter. Principal Financial Group Inc. now owns 221,203 shares of the company’s stock worth $10,660,000 after acquiring an additional 45,576 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in Fox Factory in the second quarter worth about $145,000. Louisiana State Employees Retirement System raised its position in Fox Factory by 71.3% in the second quarter. Louisiana State Employees Retirement System now owns 20,900 shares of the company’s stock worth $1,007,000 after acquiring an additional 8,700 shares during the period. Fifth Third Bancorp raised its position in Fox Factory by 26.5% in the second quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock worth $60,000 after acquiring an additional 261 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Fox Factory by 37.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,318 shares of the company’s stock worth $112,000 after acquiring an additional 635 shares during the period.

Insider Activity at Fox Factory

In related news, insider Thomas L. Fletcher sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the transaction, the insider now directly owns 11,311 shares of the company’s stock, valued at $502,321.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael C. Dennison purchased 11,250 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average cost of $44.30 per share, with a total value of $498,375.00. Following the completion of the transaction, the chief executive officer now directly owns 130,266 shares of the company’s stock, valued at $5,770,783.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas L. Fletcher sold 2,000 shares of Fox Factory stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the sale, the insider now directly owns 11,311 shares in the company, valued at approximately $502,321.51. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

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.