Fox Factory (FOXF) Scheduled to Post Quarterly Earnings on Thursday

Fox Factory (NASDAQ:FOXF) will be issuing its quarterly earnings data after the market closes on Thursday, August 1st. Analysts expect Fox Factory to post earnings of $0.34 per share for the quarter. Fox Factory has set its Q2 guidance at $0.30-0.40 EPS and its FY24 guidance at $2.30-2.55 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. The company had revenue of $333.50 million for the quarter, compared to the consensus estimate of $327.58 million. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. The firm’s revenue was down 16.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. On average, analysts expect Fox Factory to post $2 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Fox Factory Stock Down 0.1 %

Shares of NASDAQ FOXF opened at $52.58 on Wednesday. The company has a market cap of $2.19 billion, a P/E ratio of 29.37, a PEG ratio of 2.21 and a beta of 1.66. The firm has a 50-day simple moving average of $47.60 and a two-hundred day simple moving average of $50.68. Fox Factory has a 1 year low of $37.98 and a 1 year high of $117.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.43 and a quick ratio of 1.85.

Wall Street Analyst Weigh In

Several equities analysts have commented on FOXF shares. B. Riley cut their price objective on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Truist Financial upped their price target on shares of Fox Factory from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Bank of America decreased their price objective 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 target price on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Finally, Roth Mkm decreased their price target on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $47.67.

Insiders Place Their Bets

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