Fox Factory (NASDAQ:FOXF) Updates 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. Fox Factory also updated its FY 2024 guidance to 1.270-1.420 EPS.

Analyst Upgrades and Downgrades

FOXF has been the topic of several research reports. Truist Financial decreased their target price on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday. Bank of America decreased 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. Robert W. Baird dropped their target price on Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Friday. Roth Mkm decreased their price target on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, B. Riley dropped their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Fox Factory has a consensus rating of “Hold” and an average target price of $41.50.

Fox Factory Price Performance

Shares of NASDAQ:FOXF traded down $1.97 during midday trading on Friday, hitting $34.02. The stock had a trading volume of 3,211,660 shares, compared to its average volume of 342,784. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1.42 billion, a P/E ratio of 130.85, a price-to-earnings-growth ratio of 2.45 and a beta of 1.65. The company’s 50-day moving average price is $39.47 and its 200-day moving average price is $43.26. Fox Factory has a fifty-two week low of $31.19 and a fifty-two week high of $86.14.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, October 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a return on equity of 5.22% and a net margin of 0.78%. The business had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Fox Factory will post 1.56 EPS for the current fiscal year.

Insider Activity at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison bought 4,800 shares of the stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $41.44 per share, with a total value of $198,912.00. Following the completion of the purchase, the chief executive officer now owns 135,066 shares in the company, valued at $5,597,135.04. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

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.