Fox Factory Holding Corp (FOXF) Expected to Post Quarterly Sales of $188.32 Million

Brokerages forecast that Fox Factory Holding Corp (NASDAQ:FOXF) will announce $188.32 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Fox Factory’s earnings. The highest sales estimate is $190.30 million and the lowest is $185.10 million. Fox Factory reported sales of $156.83 million during the same quarter last year, which indicates a positive year-over-year growth rate of 20.1%. The business is scheduled to issue its next earnings report on Wednesday, August 7th.

On average, analysts expect that Fox Factory will report full-year sales of $730.14 million for the current fiscal year, with estimates ranging from $723.50 million to $733.00 million. For the next financial year, analysts expect that the company will report sales of $798.08 million, with estimates ranging from $790.00 million to $806.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Fox Factory.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.07. The company had revenue of $161.70 million during the quarter, compared to the consensus estimate of $156.30 million. Fox Factory had a net margin of 12.43% and a return on equity of 30.57%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share.

FOXF has been the subject of several research analyst reports. BidaskClub upgraded shares of Fox Factory from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 13th. Zacks Investment Research upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Friday, May 3rd. Finally, SunTrust Banks upped their price target on shares of Fox Factory to $70.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $66.57.

Shares of NASDAQ:FOXF traded down $0.29 during trading on Friday, hitting $69.08. 115,400 shares of the company were exchanged, compared to its average volume of 242,440. The company has a market capitalization of $2.60 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.29 and a current ratio of 2.39. Fox Factory has a 1-year low of $38.10 and a 1-year high of $79.46.

In related news, insider Christopher Tutton sold 2,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $75.94, for a total value of $151,880.00. Following the sale, the insider now owns 30,445 shares of the company’s stock, valued at $2,311,993.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dudley W. Mendenhall sold 4,645 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $63.18, for a total transaction of $293,471.10. Following the completion of the sale, the director now directly owns 11,870 shares in the company, valued at approximately $749,946.60. The disclosure for this sale can be found here. In the last three months, insiders sold 220,040 shares of company stock worth $14,341,598. 2.30% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of FOXF. JPMorgan Chase & Co. lifted its stake in shares of Fox Factory by 18.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 128,551 shares of the company’s stock valued at $9,005,000 after purchasing an additional 20,306 shares in the last quarter. Teachers Advisors LLC lifted its stake in shares of Fox Factory by 6.8% in the 3rd quarter. Teachers Advisors LLC now owns 72,471 shares of the company’s stock valued at $5,077,000 after purchasing an additional 4,633 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Fox Factory by 18.7% in the 3rd quarter. Legal & General Group Plc now owns 88,174 shares of the company’s stock valued at $6,176,000 after purchasing an additional 13,871 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Fox Factory by 38.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,909,215 shares of the company’s stock valued at $203,790,000 after purchasing an additional 806,477 shares in the last quarter. Finally, Federated Investors Inc. PA acquired a new position in shares of Fox Factory in the 3rd quarter valued at about $7,349,000. 99.60% of the stock is currently owned by institutional investors.

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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