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

Fox Factory (NASDAQ:FOXF) released its earnings results on Thursday. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10, Briefing.com reports. The company 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 10.50% and a net margin of 5.41%. Fox Factory’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $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 Performance

Shares of FOXF opened at $43.52 on Friday. 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 quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $1.83 billion, a PE ratio of 24.31, a P/E/G ratio of 3.32 and a beta of 1.68. Fox Factory has a 52-week low of $37.98 and a 52-week high of $117.68.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Roth Mkm decreased their target price on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday. Bank of America lowered Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Friday, February 23rd. Stifel Nicolaus reduced their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. B. Riley cut their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, StockNews.com lowered Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One equities research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.