Fox Factory (NASDAQ:FOXF) Releases Q4 2024 Earnings Guidance

Fox Factory (NASDAQ:FOXF) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.250-0.400 for the period, compared to the consensus estimate of 0.490. The company issued revenue guidance of $300.0 million-$340.0 million, compared to the consensus revenue estimate of $385.6 million. Fox Factory also updated its FY 2024 guidance to 1.270-1.420 EPS.

Fox Factory Stock Down 2.9 %

NASDAQ:FOXF traded down $1.06 during mid-day trading on Thursday, hitting $35.99. 723,294 shares of the company’s stock traded hands, compared to its average volume of 568,231. The company has a fifty day moving average of $39.69 and a 200 day moving average of $43.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13. Fox Factory has a twelve month low of $34.56 and a twelve month high of $86.14. The company has a market capitalization of $1.50 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.55 and a beta of 1.64.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $348.49 million during the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. Fox Factory’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. On average, analysts forecast that Fox Factory will post 1.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. B. Riley dropped their target price on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Bank of America reduced their target price on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Truist Financial lowered their price target on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Robert W. Baird reduced their price objective on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.17.

Insider Transactions at Fox Factory

In other news, CEO Michael C. Dennison bought 4,800 shares of the firm’s stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 135,066 shares in the company, valued at approximately $5,597,135.04. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

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.