Fox Factory (NASDAQ:FOXF) Announces Earnings Results, Misses Expectations By $0.07 EPS

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

Fox Factory Stock Performance

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. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63. Fox Factory has a fifty-two week low of $31.19 and a fifty-two week high of $86.14. The firm’s 50 day moving average is $39.61 and its 200-day moving average is $43.31. The firm has a market cap of $1.42 billion, a P/E ratio of 34.60, a P/E/G ratio of 2.52 and a beta of 1.64.

Analysts Set New Price Targets

Several research analysts recently weighed in on FOXF shares. Truist Financial dropped their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird dropped their price target on Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday. Roth Mkm decreased 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. Bank of America dropped their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, B. Riley decreased their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.50.

Insider Activity

In related news, CEO Michael C. Dennison purchased 4,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $41.44 per share, with a total value of $198,912.00. Following the transaction, the chief executive officer now owns 135,066 shares of the company’s stock, valued at approximately $5,597,135.04. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.