Fox Factory (NASDAQ:FOXF) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Fox Factory (NASDAQ:FOXFGet Rating) released its quarterly earnings data on Thursday. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.22 by $0.16, Briefing.com reports. Fox Factory had a net margin of 12.46% and a return on equity of 23.11%. The business had revenue of $406.71 million for the quarter, compared to the consensus estimate of $399.13 million. During the same period in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up 23.9% on a year-over-year basis.

Fox Factory Price Performance

NASDAQ:FOXF traded up $11.57 during trading hours on Friday, reaching $106.05. 663,602 shares of the company were exchanged, compared to its average volume of 251,341. The company has a current ratio of 3.05, a quick ratio of 1.93 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average is $85.20 and its 200-day moving average is $97.24. The firm has a market cap of $4.47 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 0.95 and a beta of 1.72. Fox Factory has a twelve month low of $69.28 and a twelve month high of $190.29.

Institutional Investors Weigh In On Fox Factory

A number of hedge funds have recently modified their holdings of FOXF. Capital World Investors grew its holdings in shares of Fox Factory by 431.9% in the first quarter. Capital World Investors now owns 329,000 shares of the company’s stock valued at $32,226,000 after purchasing an additional 267,147 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Fox Factory in the first quarter valued at about $17,905,000. Vanguard Group Inc. grew its holdings in shares of Fox Factory by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,035,929 shares of the company’s stock valued at $395,319,000 after purchasing an additional 50,702 shares during the period. State Street Corp grew its holdings in shares of Fox Factory by 2.0% in the first quarter. State Street Corp now owns 1,293,998 shares of the company’s stock valued at $126,747,000 after purchasing an additional 25,589 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Fox Factory by 5.4% in the first quarter. Royal Bank of Canada now owns 365,242 shares of the company’s stock valued at $35,776,000 after purchasing an additional 18,613 shares during the period. 99.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on FOXF shares. Stifel Nicolaus upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and boosted their target price for the company from $88.00 to $115.00 in a research note on Friday. Jefferies Financial Group decreased their target price on shares of Fox Factory from $140.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, June 24th.

Fox Factory Company Profile

(Get Rating)

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and 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.

Recommended Stories

Earnings History for Fox Factory (NASDAQ:FOXF)

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.