Wall Street analysts expect that Fox Factory Holding Corp (NASDAQ:FOXF) will announce sales of $206.77 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Fox Factory’s earnings, with estimates ranging from $206.00 million to $208.00 million. Fox Factory posted sales of $175.80 million in the same quarter last year, which suggests a positive year over year growth rate of 17.6%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, October 30th.
According to Zacks, analysts expect that Fox Factory will report full year sales of $740.87 million for the current financial year, with estimates ranging from $736.00 million to $743.00 million. For the next fiscal year, analysts expect that the firm will post sales of $815.57 million, with estimates ranging from $800.00 million to $830.96 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Fox Factory.
Fox Factory (NASDAQ:FOXF) last posted its earnings results on Wednesday, July 31st. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. The business had revenue of $192.10 million for the quarter, compared to analyst estimates of $187.96 million. Fox Factory had a net margin of 12.45% and a return on equity of 29.77%. Fox Factory’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 EPS.
A number of equities analysts have commented on FOXF shares. Zacks Investment Research raised shares of Fox Factory from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price target on shares of Fox Factory from $72.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Bank of America reissued a “neutral” rating and issued a $86.00 price target (up previously from $78.00) on shares of Fox Factory in a research note on Thursday, August 1st. Finally, BidaskClub cut shares of Fox Factory from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Fox Factory currently has an average rating of “Hold” and an average price target of $75.83.
In other Fox Factory news, CFO Zvi Glasman sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $67.94, for a total value of $475,580.00. Following the completion of the transaction, the chief financial officer now owns 20,284 shares of the company’s stock, valued at approximately $1,378,094.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Tutton sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.24, for a total transaction of $75,240.00. Following the completion of the transaction, the insider now directly owns 21,604 shares of the company’s stock, valued at approximately $1,625,484.96. The disclosure for this sale can be found here. In the last three months, insiders sold 82,451 shares of company stock valued at $5,805,569. Corporate insiders own 2.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in FOXF. JPMorgan Chase & Co. boosted its stake in shares of Fox Factory by 1,594.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 520,571 shares of the company’s stock valued at $42,431,000 after purchasing an additional 489,856 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Fox Factory in the 2nd quarter valued at $28,317,000. Carillon Tower Advisers Inc. purchased a new stake in shares of Fox Factory in the 2nd quarter valued at $25,496,000. Neuberger Berman Group LLC boosted its stake in shares of Fox Factory by 9.3% in the 1st quarter. Neuberger Berman Group LLC now owns 3,126,980 shares of the company’s stock valued at $218,545,000 after purchasing an additional 266,505 shares in the last quarter. Finally, Redwood Investments LLC purchased a new stake in shares of Fox Factory in the 2nd quarter valued at $21,434,000. 99.71% of the stock is owned by institutional investors.
Fox Factory stock traded up $0.15 during midday trading on Friday, reaching $67.75. 324,600 shares of the stock were exchanged, compared to its average volume of 226,788. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.45 and a current ratio of 2.73. Fox Factory has a 52 week low of $49.97 and a 52 week high of $86.91. The firm has a market cap of $2.60 billion, a PE ratio of 30.52, a PEG ratio of 1.55 and a beta of 1.35. The company’s fifty day moving average is $74.33 and its 200-day moving average is $73.84.
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.
Further Reading: What is the Quick Ratio?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fox Factory Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fox Factory and related companies with MarketBeat.com's FREE daily email newsletter.