Fox Factory Holding Corp (NASDAQ:FOXF) Expected to Post Earnings of $0.79 Per Share

Brokerages expect Fox Factory Holding Corp (NASDAQ:FOXF) to announce earnings per share of $0.79 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Fox Factory’s earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.78. Fox Factory reported earnings per share of $0.72 in the same quarter last year, which suggests a positive year-over-year growth rate of 9.7%. The business is scheduled to announce its next earnings report on Wednesday, October 30th.

On average, analysts expect that Fox Factory will report full year earnings of $2.62 per share for the current year, with EPS estimates ranging from $2.60 to $2.64. For the next year, analysts expect that the business will post earnings of $2.94 per share, with EPS estimates ranging from $2.86 to $3.10. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Fox Factory.

Fox Factory (NASDAQ:FOXF) last issued its earnings results on Wednesday, July 31st. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. The firm had revenue of $192.10 million during the quarter, compared to the consensus estimate of $187.96 million. Fox Factory had a return on equity of 29.77% and a net margin of 12.45%. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share.

Several analysts have recently commented on FOXF shares. Bank of America restated a “neutral” rating and issued a $86.00 target price (up previously from $78.00) on shares of Fox Factory in a report on Thursday, August 1st. Zacks Investment Research upgraded Fox Factory from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Friday, August 2nd. Stifel Nicolaus upped their target price on Fox Factory from $72.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, BidaskClub lowered Fox Factory from a “sell” rating to a “strong sell” rating in a report on Saturday. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.83.

In related news, insider Christopher Tutton sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $74.61, for a total value of $373,050.00. Following the sale, the insider now directly owns 28,065 shares in the company, valued at approximately $2,093,929.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zvi Glasman sold 13,583 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.93, for a total value of $990,608.19. Following the completion of the sale, the chief financial officer now owns 20,284 shares in the company, valued at $1,479,312.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,044 shares of company stock worth $2,697,208. 2.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Atria Investments LLC increased its stake in Fox Factory by 25.4% during the 2nd quarter. Atria Investments LLC now owns 34,610 shares of the company’s stock valued at $2,565,000 after purchasing an additional 7,018 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Fox Factory in the 2nd quarter worth $322,000. BlackRock Inc. raised its position in Fox Factory by 1.2% in the 2nd quarter. BlackRock Inc. now owns 5,491,681 shares of the company’s stock worth $453,120,000 after purchasing an additional 63,979 shares during the period. Vestmark Advisory Solutions Inc. bought a new stake in Fox Factory in the second quarter worth $240,000. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Fox Factory in the second quarter worth $1,650,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Shares of Fox Factory stock traded up $1.55 during trading hours on Friday, reaching $69.17. The company’s stock had a trading volume of 69,708 shares, compared to its average volume of 226,237. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.45 and a current ratio of 2.73. The stock’s fifty day simple moving average is $74.69 and its two-hundred day simple moving average is $73.81. The company has a market capitalization of $2.66 billion, a P/E ratio of 31.16, a P/E/G ratio of 1.54 and a beta of 1.35. Fox Factory has a one year low of $49.97 and a one year high of $86.91.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.

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