Q3 2024 EPS Estimates for Fox Factory Holding Corp. Reduced by B. Riley (NASDAQ:FOXF)

Fox Factory Holding Corp. (NASDAQ:FOXF) – Investment analysts at B. Riley cut their Q3 2024 earnings per share (EPS) estimates for Fox Factory in a research note issued on Tuesday, July 30th. B. Riley analyst A. Glaessgen now forecasts that the company will post earnings per share of $0.85 for the quarter, down from their prior forecast of $0.99. 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 $2.40 per share.

A number of other research firms have also weighed in on FOXF. Roth Mkm lowered their price objective on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Truist Financial dropped their price objective on shares of Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday. Bank of America reduced their price objective on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Stifel Nicolaus reduced their price target on Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Finally, Robert W. Baird decreased their price target on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.00.

Fox Factory Stock Down 16.3 %

Shares of NASDAQ FOXF opened at $41.48 on Friday. 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 $1.73 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.10 and a beta of 1.66. The stock has a 50 day moving average price of $47.79 and a 200 day moving average price of $50.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $348.49 million for the quarter, compared to analyst estimates of $346.22 million. Fox Factory had a return on equity of 7.62% and a net margin of 3.07%. The business’s revenue was down 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share.

Hedge Funds Weigh In On Fox Factory

Hedge funds have recently bought and sold shares of the company. Norden Group LLC increased its stake in Fox Factory by 3,378.1% during the first quarter. Norden Group LLC now owns 286,420 shares of the company’s stock worth $14,914,000 after purchasing an additional 278,185 shares during the period. Sei Investments Co. grew its stake in shares of Fox Factory by 6.9% in the first quarter. Sei Investments Co. now owns 223,173 shares of the company’s stock worth $11,621,000 after acquiring an additional 14,328 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Fox Factory by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock valued at $286,279,000 after purchasing an additional 46,132 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Fox Factory by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 421,003 shares of the company’s stock worth $28,409,000 after purchasing an additional 16,542 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its stake in shares of Fox Factory by 172.8% during the first quarter. Motley Fool Asset Management LLC now owns 41,704 shares of the company’s stock worth $2,172,000 after buying an additional 26,416 shares during the period.

Insider Buying and Selling

In related news, CEO Michael C. Dennison bought 11,250 shares of the company’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $44.30 per share, for a total transaction of $498,375.00. Following the acquisition, the chief executive officer now directly owns 130,266 shares in the company, valued at $5,770,783.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fox Factory news, insider Thomas L. Fletcher sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $44.41, for a total value of $88,820.00. Following the sale, the insider now owns 11,311 shares of the company’s stock, valued at $502,321.51. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael C. Dennison purchased 11,250 shares of the stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $44.30 per share, with a total value of $498,375.00. Following the completion of the transaction, the chief executive officer now owns 130,266 shares of the company’s stock, valued at $5,770,783.80. The disclosure for this purchase can be found here. 0.30% of the stock is owned by company insiders.

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.