Fox Factory Holding Corp (NASDAQ:FOXF) Expected to Post Quarterly Sales of $206.77 Million

Wall Street analysts expect that Fox Factory Holding Corp (NASDAQ:FOXF) will report sales of $206.77 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Fox Factory’s earnings. The highest sales estimate is $208.00 million and the lowest is $206.00 million. Fox Factory posted sales of $175.80 million during the same quarter last year, which would indicate a positive year over year growth rate of 17.6%. The company is scheduled to announce its next earnings results on Wednesday, October 30th.

According to Zacks, analysts expect that Fox Factory will report full year sales of $740.87 million for the current year, with estimates ranging from $736.00 million to $743.00 million. For the next year, analysts forecast that the firm will post sales of $815.57 million, with estimates ranging from $800.00 million to $830.96 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Fox Factory.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. Fox Factory had a return on equity of 29.77% and a net margin of 12.45%. The business had revenue of $192.10 million for the quarter, compared to the consensus estimate of $187.96 million. During the same quarter in the previous year, the company posted $0.56 EPS. The company’s revenue was up 22.5% compared to the same quarter last year.

A number of analysts have issued reports on the company. BidaskClub downgraded Fox Factory from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Bank of America reaffirmed a “neutral” rating and issued a $86.00 price objective (up previously from $78.00) on shares of Fox Factory in a research note on Thursday, August 1st. Stifel Nicolaus boosted their target price on Fox Factory from $72.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Fox Factory from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Friday, August 2nd. Finally, SunTrust Banks boosted their target price on Fox Factory to $70.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Fox Factory has a consensus rating of “Buy” and an average price target of $75.83.

In other Fox Factory news, insider Christopher Tutton sold 461 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $75.01, for a total value of $34,579.61. Following the transaction, the insider now owns 22,604 shares of the company’s stock, valued at approximately $1,695,526.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zvi Glasman sold 5,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $82.50, for a total value of $412,500.00. Following the completion of the transaction, the chief financial officer now directly owns 20,284 shares in the company, valued at approximately $1,673,430. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,681 shares of company stock worth $8,052,599. Corporate insiders own 2.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new position in Fox Factory in the 1st quarter valued at $31,000. Huntington National Bank purchased a new stake in shares of Fox Factory in the 1st quarter worth $33,000. Private Capital Group LLC lifted its holdings in shares of Fox Factory by 78.0% in the 1st quarter. Private Capital Group LLC now owns 557 shares of the company’s stock worth $39,000 after buying an additional 244 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Fox Factory in the 2nd quarter worth $60,000. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in shares of Fox Factory in the 1st quarter worth $62,000. 99.67% of the stock is currently owned by institutional investors.

NASDAQ:FOXF traded up $1.02 during trading hours on Friday, reaching $76.40. The stock had a trading volume of 141,000 shares, compared to its average volume of 227,977. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.45 and a current ratio of 2.73. Fox Factory has a 52 week low of $49.97 and a 52 week high of $86.91. The company has a 50 day moving average price of $79.27 and a two-hundred day moving average price of $72.77. The stock has a market capitalization of $2.87 billion, a PE ratio of 34.41, a PEG ratio of 1.71 and a beta of 1.30.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.

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

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