Fox Factory (NASDAQ:FOXF) Releases Earnings Results

Fox Factory (NASDAQ:FOXF) issued its quarterly earnings results on Thursday. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10, Briefing.com reports. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The company had revenue of $333.50 million for the quarter, compared to analyst estimates of $327.58 million. During the same quarter last year, the company posted $1.20 EPS. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. Fox Factory updated its Q2 guidance to $0.30-0.40 EPS and its FY24 guidance to $2.30-2.55 EPS.

Fox Factory Trading Up 10.4 %

Shares of Fox Factory stock traded up $4.10 during midday trading on Friday, reaching $43.52. The company had a trading volume of 1,149,486 shares, compared to its average volume of 620,947. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.70 and a quick ratio of 1.91. Fox Factory has a fifty-two week low of $37.98 and a fifty-two week high of $117.68. The stock has a fifty day moving average price of $46.45 and a 200 day moving average price of $59.78. The firm has a market cap of $1.83 billion, a PE ratio of 15.27, a P/E/G ratio of 3.27 and a beta of 1.68.

Analyst Ratings Changes

FOXF has been the topic of several research reports. Robert W. Baird decreased their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday. StockNews.com downgraded shares of Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Bank of America downgraded Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Friday, February 23rd. Truist Financial lowered their target price on Fox Factory from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday. Finally, B. Riley cut their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Fox Factory has an average rating of “Hold” and a consensus price target of $48.00.

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.