Fox Factory (NASDAQ:FOXF – Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10, Briefing.com reports. The business had revenue of $333.50 million during the quarter, compared to the consensus estimate of $327.58 million. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The business’s revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. Fox Factory updated its Q2 guidance to $0.30-0.40 EPS and its FY24 guidance to $2.30-2.55 EPS.
Fox Factory Stock Up 10.4 %
NASDAQ:FOXF traded up $4.10 during trading hours on Friday, hitting $43.52. 1,149,486 shares of the stock traded hands, compared to its average volume of 620,947. The firm has a 50 day moving average price of $46.45 and a 200 day moving average price of $59.78. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61. Fox Factory has a fifty-two week low of $37.98 and a fifty-two week high of $117.68. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 3.27 and a beta of 1.68.
Wall Street Analysts Forecast Growth
FOXF has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Roth Mkm cut their target price on Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday. Robert W. Baird cut their target price on Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday. Truist Financial cut their target price on Fox Factory from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America downgraded Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Fox Factory currently has a consensus rating of “Hold” and an average price target of $48.00.
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.
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