Fox Factory (NASDAQ:FOXF) Announces Earnings Results

Fox Factory (NASDAQ:FOXF) announced its earnings results on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07), Briefing.com reports. The company had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $1.05 EPS.

Fox Factory Price Performance

Shares of NASDAQ:FOXF traded down $1.97 during midday trading on Friday, hitting $34.02. The company’s stock had a trading volume of 3,175,274 shares, compared to its average volume of 580,707. Fox Factory has a 12-month low of $31.19 and a 12-month high of $86.14. The company has a market cap of $1.42 billion, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 2.52 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 business’s 50 day simple moving average is $39.61 and its 200 day simple moving average is $43.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FOXF shares. Robert W. Baird lowered their price target on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday. Roth Mkm reduced their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday. B. Riley decreased 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. Bank of America cut their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Truist Financial decreased their price target on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.50.

Insider Buying and Selling at Fox Factory

In related news, CEO Michael C. Dennison bought 4,800 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the acquisition, the chief executive officer now directly owns 135,066 shares in the company, valued at $5,597,135.04. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.