Brokerages Anticipate Fox Factory Holding Corp (FOXF) Will Post Earnings of $0.48 Per Share

Analysts expect that Fox Factory Holding Corp (NASDAQ:FOXF) will announce $0.48 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Fox Factory’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.49. Fox Factory reported earnings per share of $0.39 in the same quarter last year, which suggests a positive year-over-year growth rate of 23.1%. The company is scheduled to report its next earnings report after the market closes on Wednesday, August 1st.

On average, analysts expect that Fox Factory will report full year earnings of $1.83 per share for the current financial year, with EPS estimates ranging from $1.80 to $1.85. For the next financial year, analysts anticipate that the company will post earnings of $2.08 per share, with EPS estimates ranging from $2.00 to $2.21. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Fox Factory.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Wednesday, May 2nd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $129.80 million for the quarter, compared to the consensus estimate of $125.76 million. Fox Factory had a return on equity of 26.52% and a net margin of 10.78%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share.

A number of equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Fox Factory in a report on Monday, July 16th. They set a “buy” rating and a $63.00 price objective on the stock. Robert W. Baird lifted their price objective on Fox Factory from $42.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday. Zacks Investment Research downgraded Fox Factory from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Berenberg Bank assumed coverage on Fox Factory in a report on Wednesday, June 20th. They issued a “buy” rating and a $51.00 target price on the stock. Finally, BidaskClub raised Fox Factory from a “buy” rating to a “strong-buy” rating in a report on Friday, June 8th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $48.86.

In other news, insider Thomas Michael Wittenschlaeger sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $43.17, for a total value of $64,755.00. Following the transaction, the insider now directly owns 65,766 shares of the company’s stock, valued at approximately $2,839,118.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zvi Glasman sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $38.81, for a total value of $407,505.00. Following the completion of the transaction, the chief financial officer now directly owns 37,067 shares in the company, valued at $1,438,570.27. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock worth $1,472,660 over the last three months. 5.60% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in Fox Factory by 8.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 128,141 shares of the company’s stock worth $4,978,000 after purchasing an additional 9,636 shares during the last quarter. California Public Employees Retirement System raised its position in Fox Factory by 10.8% in the 4th quarter. California Public Employees Retirement System now owns 27,874 shares of the company’s stock worth $1,083,000 after purchasing an additional 2,722 shares during the last quarter. Allianz Asset Management GmbH bought a new position in Fox Factory in the 4th quarter worth approximately $444,000. Principal Financial Group Inc. raised its position in Fox Factory by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 316,439 shares of the company’s stock worth $11,044,000 after purchasing an additional 8,107 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Fox Factory by 69.0% in the 1st quarter. Victory Capital Management Inc. now owns 8,357 shares of the company’s stock worth $292,000 after purchasing an additional 3,412 shares during the last quarter. Hedge funds and other institutional investors own 99.25% of the company’s stock.

Fox Factory opened at $49.15 on Wednesday, according to Marketbeat. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.30 and a current ratio of 2.45. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 1.73 and a beta of 0.67. Fox Factory has a 1-year low of $33.20 and a 1-year high of $53.95.

Fox Factory Company Profile

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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Earnings History and Estimates for Fox Factory (NASDAQ:FOXF)

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