Fox Factory Holding Corp. to Post FY2024 Earnings of $2.32 Per Share, B. Riley Forecasts (NASDAQ:FOXF)

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

A number of other equities analysts have also recently commented on FOXF. Stifel Nicolaus dropped their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. StockNews.com cut Fox Factory from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Robert W. Baird reduced their price target on Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Bank of America dropped their price objective on Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Monday. Finally, Truist Financial reduced their target price on Fox Factory from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Fox Factory has an average rating of “Hold” and an average price target of $46.83.

Fox Factory Stock Down 1.4 %

NASDAQ FOXF opened at $43.70 on Monday. Fox Factory has a 52 week low of $37.98 and a 52 week high of $117.68. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 3.66 and a beta of 1.68. The company has a quick ratio of 1.85, a current ratio of 3.43 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $46.22 and a two-hundred day moving average of $58.70.

Fox Factory (NASDAQ:FOXF) last announced its 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 during the quarter, compared to analysts’ expectations of $327.58 million. During the same quarter in the previous year, the business earned $1.20 EPS. The company’s quarterly revenue was down 16.6% on a year-over-year basis.

Institutional Investors Weigh In On Fox Factory

Institutional investors and hedge funds have recently bought and sold shares of the company. Operose Advisors LLC purchased a new position in shares of Fox Factory during the third quarter valued at $37,000. Assetmark Inc. grew its holdings in Fox Factory by 171.4% during the 3rd quarter. Assetmark Inc. now owns 380 shares of the company’s stock worth $38,000 after acquiring an additional 240 shares in the last quarter. Quest Partners LLC purchased a new position in Fox Factory during the 4th quarter valued at about $31,000. GAMMA Investing LLC bought a new stake in shares of Fox Factory in the 4th quarter valued at about $29,000. Finally, CWM LLC lifted its position in shares of Fox Factory by 54.1% in the 4th quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after purchasing an additional 219 shares during the period.

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.