Equity research analysts expect Fox Factory Holding Corp. (NASDAQ:FOXF – Get Rating) reports $399.48 million in sales for the current fiscal quarter, reports Zacks Investment Research. Four analysts have made estimates of Fox Factory earnings, with estimates ranging from $395.00 million to $404.90 million. Fox Factory recorded sales of $328.16 million in the same quarter last year, which would indicate a positive growth rate of 21.7% year over year. The company is due to release its next results on Monday, January 1.
On average, analysts expect Fox Factory to report annual sales of $1.53 billion for the current year, with estimates ranging from $1.52 billion to $1.54 billion. For the next fiscal year, analysts expect the company to post sales of $1.63 billion, with estimates ranging from $1.60 billion to $1.66 billion. Zacks sales averages are an average based on a survey of research analysts who provide coverage for Fox Factory.
Fox Factory (NASDAQ:FOXF – Get Rating) last released its quarterly results on Thursday, May 5. The company reported earnings per share of $1.32 for the quarter, beating analyst consensus estimates of $1.14 by $0.18. Fox Factory had a net margin of 12.46% and a return on equity of 23.11%. The company posted revenue of $377.98 million for the quarter, versus a consensus estimate of $335.60 million. In the same period a year earlier, the company posted earnings of $1.05 per share. Fox Factory’s revenue for the quarter increased 34.4% compared to the same quarter last year.
Several equity analysts have commented on FOXF shares. TheStreet downgraded Fox Factory shares from a ‘b’ rating to a ‘c+’ rating in a Thursday, March 10 research report. StockNews.com began covering Fox Factory shares in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. Truist Financial lowered its target price on Fox Factory shares from $200.00 to $175.00 in a Monday, Feb. 28 research report. Finally, Zacks Investment Research upgraded Fox Factory shares from a “hold” rating to a “buy” rating and set a price target of $91.00 for the company in a Monday, May 9 report.
A number of hedge funds have recently increased or reduced their holdings in FOXF. Covestor Ltd increased its stake in Fox Factory by 58.4% during the first quarter. Covestor Ltd now owns 358 shares of the company valued at $35,000 after acquiring an additional 132 shares during the period. Rockefeller Capital Management LP purchased a new stake in Fox Factory during the third quarter worth approximately $36,000. CM Bidwell & Associates Ltd. increased its stake in Fox Factory shares by 236.3% in the third quarter. CM Bidwell & Associates Ltd. now owns 380 shares of the company valued at $55,000 after purchasing an additional 267 shares during the period. Logan Capital Management Inc. increased its stake in Fox Factory shares by 34.5% in the first quarter. Logan Capital Management Inc. now owns 601 shares of the company valued at $59,000 after purchasing an additional 154 shares during the period. Finally, Lazard Asset Management LLC bought a new equity stake in Fox Factory in the first quarter valued at around $69,000. Institutional investors hold 99.49% of the company’s shares.
NASDAQ FOXF opened at $77.26 on Thursday. Fox Factory has a 1-year low of $74.37 and a 1-year high of $190.29. The company has a current ratio of 3.05, a quick ratio of 1.93 and a debt ratio of 0.42. The company has a market capitalization of $3.26 billion, a PE ratio of 18.84, a growth price-earnings ratio of 0.78 and a beta of 1.80. The company’s fifty-day simple moving average is $89.73 and its 200-day simple moving average is $127.85.
Fox Factory Company Profile (Get a rating)
Fox Factory Holding Corp. designs, engineers, manufactures and markets driving dynamics products worldwide. The company offers mid-range and high-end front fork and rear suspension products for mountain bikes, road bikes and e-bikes. and motor vehicle products for side-by-side vehicles, road vehicles with and without off-road capabilities, all-terrain vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks.
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