Fox Factory (NASDAQ:FOXF) Releases Earnings Results, Misses Estimates By $0.07 EPS

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

Fox Factory Trading Down 5.5 %

NASDAQ FOXF traded down $1.97 on Friday, hitting $34.02. 3,175,274 shares of the stock were exchanged, compared to its average volume of 580,707. Fox Factory has a 52-week low of $31.19 and a 52-week high of $86.14. The firm has a market capitalization 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. 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 stock has a fifty day moving average price of $39.61 and a two-hundred day moving average price of $43.31.

Insider Transactions at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison bought 4,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were 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. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Roth Mkm dropped their price target on Fox Factory from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday. B. Riley cut their target price 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. Robert W. Baird decreased their price target on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial dropped their price objective on shares of Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a report on Friday. Finally, Bank of America decreased their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. One 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.50.

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.