Fox Factory (NASDAQ:FOXF) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Fox Factory (NASDAQ:FOXF) announced 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. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. The firm had revenue of $333.50 million during the quarter, compared to analysts’ expectations of $327.58 million. During the same period last year, the business posted $1.20 earnings per share. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. Fox Factory updated its Q2 guidance to $0.30-0.40 EPS and its FY24 guidance to $2.30-2.55 EPS.

Fox Factory Price Performance

Shares of NASDAQ:FOXF traded up $4.10 during trading on Friday, reaching $43.52. The stock had a trading volume of 1,149,486 shares, compared to its average volume of 620,947. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 3.70. The business has a fifty day moving average price of $46.45 and a 200-day moving average price of $59.78. The stock has a market cap of $1.83 billion, a PE ratio of 15.27, a PEG ratio of 3.27 and a beta of 1.68. Fox Factory has a 1-year low of $37.98 and a 1-year high of $117.68.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com lowered Fox Factory from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Robert W. Baird dropped their target price on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday. Roth Mkm dropped their target price on Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday. Truist Financial dropped their target price on Fox Factory from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday. Finally, Bank of America lowered Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Friday, February 23rd. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.00.

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.