B. Riley Weighs in on Fox Factory Holding Corp.’s FY2024 Earnings (NASDAQ:FOXF)

Fox Factory Holding Corp. (NASDAQ:FOXF) – Stock analysts at B. Riley dropped their FY2024 EPS estimates for Fox Factory in a note issued to investors on Friday, May 3rd. B. Riley analyst A. Glaessgen now forecasts that the company will earn $2.32 per share for the year, down from their prior estimate of $2.35. B. Riley has a “Neutral” rating and a $45.00 price objective on the stock. The consensus estimate for Fox Factory’s current full-year earnings is $2.42 per share.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The firm had revenue of $333.50 million for the quarter, compared to analysts’ expectations of $327.58 million. During the same period in the previous year, the firm posted $1.20 EPS. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year.

FOXF has been the topic of a number of other research reports. Truist Financial dropped their price target on shares of Fox Factory from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Robert W. Baird dropped their target price on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Bank of America reduced their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday. Stifel Nicolaus lowered their price objective on Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Finally, Roth Mkm reduced their target price 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.83.

Fox Factory Trading Down 1.4 %

NASDAQ FOXF opened at $43.70 on Monday. Fox Factory has a 12 month low of $37.98 and a 12 month high of $117.68. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $46.22 and its 200-day moving average price is $58.70. The stock has a market cap of $1.83 billion, a P/E ratio of 24.41, a P/E/G ratio of 3.66 and a beta of 1.68.

Institutional Investors Weigh In On Fox Factory

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Fox Factory by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock valued at $286,279,000 after buying an additional 46,132 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Fox Factory by 0.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock worth $364,229,000 after purchasing an additional 33,703 shares during the last quarter. FMR LLC grew its stake in shares of Fox Factory by 46.2% during the 3rd quarter. FMR LLC now owns 1,136,720 shares of the company’s stock valued at $112,626,000 after purchasing an additional 359,168 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of Fox Factory by 0.3% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,134,439 shares of the company’s stock valued at $76,552,000 after purchasing an additional 3,935 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Fox Factory by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,862 shares of the company’s stock valued at $55,461,000 after purchasing an additional 12,474 shares during the last quarter.

About Fox Factory

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.