Fox Factory (NASDAQ:FOXF) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Fox Factory (NASDAQ:FOXF) released its quarterly earnings results on Thursday. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04, Briefing.com reports. Fox Factory had a return on equity of 7.62% and a net margin of 3.07%. The business had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company’s revenue was down 13.0% compared to the same quarter last year.

Fox Factory Stock Performance

FOXF stock traded down $8.05 on Friday, reaching $41.48. The company’s stock had a trading volume of 1,501,707 shares, compared to its average volume of 478,198. Fox Factory has a 52 week low of $37.98 and a 52 week high of $117.68. The company has a market capitalization of $1.73 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.66. The firm has a fifty day moving average of $47.79 and a two-hundred day moving average of $50.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.43 and a quick ratio of 1.85.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms recently commented on FOXF. Bank of America cut their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Stifel Nicolaus cut their price target on Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Truist Financial lowered their price objective on Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird lowered their price objective on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Friday. Finally, Roth Mkm lowered their price objective on Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Fox Factory has a consensus rating of “Hold” and a consensus price target of $47.00.

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.