Fox Factory (NASDAQ:FOXF) Updates FY 2022 Earnings Guidance

Fox Factory (NASDAQ:FOXFGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $5.00-$5.30 for the period, compared to the consensus estimate of $5.10. The company issued revenue guidance of $1.50 billion-$1.53 billion, compared to the consensus revenue estimate of $1.45 billion.Fox Factory also updated its Q2 2022 guidance to $1.10-$1.25 EPS.

FOXF has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Fox Factory in a report on Thursday, March 31st. They set a hold rating on the stock. TheStreet cut shares of Fox Factory from a b rating to a c+ rating in a research report on Thursday, March 10th. Zacks Investment Research upgraded Fox Factory from a hold rating to a buy rating and set a $91.00 target price for the company in a research report on Monday, May 9th. Finally, Truist Financial reduced their price objective on Fox Factory from $200.00 to $175.00 in a research report on Monday, February 28th.

Shares of NASDAQ FOXF traded down $2.06 during mid-day trading on Monday, reaching $81.10. The company had a trading volume of 255 shares, compared to its average volume of 257,139. The company has a current ratio of 3.05, a quick ratio of 1.93 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.42 billion, a PE ratio of 20.28, a P/E/G ratio of 0.82 and a beta of 1.80. The company has a 50-day moving average price of $93.27 and a two-hundred day moving average price of $132.36. Fox Factory has a 1-year low of $74.67 and a 1-year high of $190.29.

Fox Factory (NASDAQ:FOXFGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. Fox Factory had a return on equity of 23.11% and a net margin of 12.46%. The business had revenue of $377.98 million for the quarter, compared to the consensus estimate of $335.60 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. Fox Factory’s revenue for the quarter was up 34.4% compared to the same quarter last year. On average, research analysts expect that Fox Factory will post 5.2 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake 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 buying an additional 10,936 shares in the last quarter. LPL Financial LLC raised its holdings in shares of 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 buying an additional 4,110 shares during the last quarter. UBS Group AG raised its holdings in Fox Factory by 15.6% during the 3rd 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. Barclays PLC raised its stake in shares of Fox Factory by 9.0% during the fourth quarter. Barclays PLC now owns 60,924 shares of the company’s stock worth $10,363,000 after buying an additional 5,042 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Fox Factory by 4.2% in the fourth quarter. Legal & General Group Plc now owns 63,053 shares of the company’s stock valued at $10,725,000 after acquiring an additional 2,567 shares during the last quarter. 99.49% of the stock is currently owned by institutional investors.

Fox Factory Company Profile (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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Earnings History and Estimates for Fox Factory (NASDAQ:FOXF)

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