Fox Factory (NASDAQ:FOXF) Releases Q2 Earnings Guidance

Fox Factory (NASDAQ:FOXFGet Rating) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.10 to $1.25 for the period, compared to the consensus earnings per share estimate of $1.30. The company issued revenue guidance of $385 million to $405 million, compared to the consensus revenue estimate of $369.72 million.Fox Factory also updated its FY22 guidance to $5.00 to $5.30 EPS.

Several equities research analysts have issued reports on the company. TheStreet downgraded Fox Factory from a b rating to a c+ rating in a report on Thursday, March 10th. Zacks Investment Research cut shares of Fox Factory from a buy rating to a hold rating in a research note on Tuesday, March 1st. Truist Financial decreased their price target on shares of Fox Factory from $200.00 to $175.00 in a research note on Monday, February 28th. Finally, StockNews.com initiated coverage on shares of Fox Factory in a research report on Thursday, March 31st. They set a hold rating for the company.

FOXF stock traded down $3.08 during trading hours on Friday, hitting $81.59. 1,520 shares of the stock were exchanged, compared to its average volume of 201,154. Fox Factory has a 12 month low of $80.53 and a 12 month high of $190.29. The company has a current ratio of 3.15, a quick ratio of 1.94 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $3.44 billion, a P/E ratio of 21.88, a P/E/G ratio of 0.85 and a beta of 1.80. The company has a 50-day simple moving average of $96.66 and a two-hundred day simple moving average of $135.69.

Fox Factory (NASDAQ:FOXFGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $377.98 million for the quarter, compared to analyst estimates of $335.60 million. Fox Factory had a net margin of 12.61% and a return on equity of 23.05%. Fox Factory’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. On average, equities research analysts predict that Fox Factory will post 5.12 earnings per share for the current year.

Several hedge funds have recently modified their holdings of FOXF. Morgan Stanley lifted its position in Fox Factory by 9.9% during the second quarter. Morgan Stanley now owns 121,660 shares of the company’s stock worth $18,937,000 after purchasing an additional 10,936 shares during the period. Barclays PLC boosted its position in shares of Fox Factory by 9.0% during the 4th quarter. Barclays PLC now owns 60,924 shares of the company’s stock worth $10,363,000 after acquiring an additional 5,042 shares in the last quarter. LPL Financial LLC increased its stake in Fox Factory by 165.1% in the third quarter. LPL Financial LLC now owns 6,600 shares of the company’s stock valued at $954,000 after acquiring an additional 4,110 shares during the last quarter. Legal & General Group Plc raised its position in Fox Factory by 4.2% during the fourth quarter. Legal & General Group Plc now owns 63,053 shares of the company’s stock valued at $10,725,000 after purchasing an additional 2,567 shares in the last quarter. Finally, UBS Group AG lifted its stake in Fox Factory by 15.6% during the third quarter. UBS Group AG now owns 13,337 shares of the company’s stock worth $1,927,000 after purchasing an additional 1,798 shares during the last quarter. Institutional investors and hedge funds own 99.49% of the company’s stock.

About Fox Factory (Get Rating)

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and 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.

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