Fox Factory (NASDAQ:FOXF) Issues Q4 Earnings Guidance

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

Analyst Ratings Changes

FOXF has been the topic of a number of research analyst reports. Robert W. Baird cut their target price on Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Bank of America cut 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. B. Riley lowered 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. Finally, Truist Financial cut their price target on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.17.

Fox Factory Stock Down 2.9 %

FOXF stock traded down $1.06 during mid-day trading on Thursday, reaching $35.99. The company had a trading volume of 702,404 shares, compared to its average volume of 568,137. Fox Factory has a fifty-two week low of $34.56 and a fifty-two week high of $86.14. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 2.55 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. The firm has a fifty day simple moving average of $39.69 and a 200 day simple moving average of $43.36.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The firm had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. During the same quarter last year, the company earned $1.21 earnings per share. The firm’s revenue was down 13.0% compared to the same quarter last year. Analysts forecast that Fox Factory will post 1.56 earnings per share for the current fiscal year.

Insider Transactions at Fox Factory

In related news, CEO Michael C. Dennison acquired 4,800 shares of Fox Factory stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the transaction, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.