B. Riley Weighs in on Fox Factory Holding Corp.’s Q4 2024 Earnings (NASDAQ:FOXF)

Fox Factory Holding Corp. (NASDAQ:FOXF) – Stock analysts at B. Riley increased their Q4 2024 earnings estimates for Fox Factory in a research report issued on Tuesday, July 30th. B. Riley analyst A. Glaessgen now forecasts that the company will post earnings per share of $0.86 for the quarter, up from their previous forecast of $0.73. B. Riley has a “Neutral” rating and a $45.00 price objective on the stock. The consensus estimate for Fox Factory’s current full-year earnings is $2.40 per share.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. The business had revenue of $348.49 million during the quarter, compared to analyst estimates of $346.22 million. During the same quarter last year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus cut their target price on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Bank of America cut their target price on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Robert W. Baird cut their target price on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday. Roth Mkm cut their target price on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Truist Financial cut their target price on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.00.

Fox Factory Stock Down 16.3 %

FOXF stock opened at $41.48 on Thursday. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. Fox Factory has a twelve month low of $37.98 and a twelve month high of $117.68. The company’s 50 day moving average is $47.85 and its two-hundred day moving average is $50.69. The stock has a market cap of $1.73 billion, a P/E ratio of 23.17, a PEG ratio of 2.27 and a beta of 1.66.

Insider Activity

In related news, insider Thomas L. Fletcher sold 2,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $44.41, for a total transaction of $88,820.00. Following the transaction, the insider now directly owns 11,311 shares in the company, valued at $502,321.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fox Factory news, CEO Michael C. Dennison purchased 11,250 shares of the stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $44.30 per share, with a total value of $498,375.00. Following the completion of the acquisition, the chief executive officer now owns 130,266 shares of the company’s stock, valued at $5,770,783.80. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas L. Fletcher sold 2,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $44.41, for a total value of $88,820.00. Following the transaction, the insider now directly owns 11,311 shares in the company, valued at $502,321.51. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Fox Factory

A number of institutional investors have recently bought and sold shares of FOXF. Norges Bank purchased a new position in Fox Factory during the 4th quarter valued at about $31,429,000. Norden Group LLC grew its stake in Fox Factory by 3,378.1% during the 1st quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after acquiring an additional 278,185 shares in the last quarter. Vanguard Group Inc. grew its stake in Fox Factory by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after acquiring an additional 228,339 shares in the last quarter. RWWM Inc. acquired a new stake in shares of Fox Factory during the 4th quarter valued at about $7,969,000. Finally, Jane Street Group LLC lifted its holdings in shares of Fox Factory by 173.7% during the 1st quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock valued at $9,470,000 after buying an additional 115,432 shares during the last quarter.

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.