FY2024 Earnings Estimate for Fox Factory Issued By B. Riley

Fox Factory Holding Corp. (NASDAQ:FOXF) – Research analysts at B. Riley lowered their FY2024 EPS estimates for Fox Factory in a report released on Thursday, October 31st. B. Riley analyst A. Glaessgen now expects that the company will earn $1.32 per share for the year, down from their prior forecast of $1.42. B. Riley has a “Neutral” rating and a $45.00 price target on the stock. The consensus estimate for Fox Factory’s current full-year earnings is $1.56 per share. B. Riley also issued estimates for Fox Factory’s Q4 2024 earnings at $0.30 EPS.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Fox Factory had a return on equity of 5.22% and a net margin of 0.78%. The business had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. During the same period in the prior year, the business posted $1.05 earnings per share. Fox Factory’s revenue was up 8.4% on a year-over-year basis.

Other analysts have also issued reports about the stock. Bank of America decreased their price target on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Roth Mkm cut their price objective on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial reduced their price target on Fox Factory from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Friday. Finally, Robert W. Baird decreased their price objective on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.50.

Fox Factory Price Performance

Shares of FOXF stock opened at $33.58 on Monday. Fox Factory has a twelve month low of $31.19 and a twelve month high of $70.13. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 129.15, a P/E/G ratio of 2.45 and a beta of 1.65. The stock has a fifty day simple moving average of $39.47 and a two-hundred day simple moving average of $43.27.

Hedge Funds Weigh In On Fox Factory

Hedge funds have recently added to or reduced their stakes in the business. Malaga Cove Capital LLC boosted its holdings in Fox Factory by 28.5% in the third quarter. Malaga Cove Capital LLC now owns 12,050 shares of the company’s stock valued at $500,000 after acquiring an additional 2,671 shares during the last quarter. D.B. Root & Company LLC increased its position in shares of Fox Factory by 24.7% in the 3rd quarter. D.B. Root & Company LLC now owns 6,060 shares of the company’s stock worth $251,000 after purchasing an additional 1,199 shares during the last quarter. US Bancorp DE grew its position in shares of Fox Factory by 2.6% in the 3rd quarter. US Bancorp DE now owns 42,844 shares of the company’s stock worth $1,778,000 after acquiring an additional 1,099 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Fox Factory by 2.7% during the third quarter. Assenagon Asset Management S.A. now owns 35,571 shares of the company’s stock valued at $1,476,000 after purchasing an additional 941 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Fox Factory by 301.1% during the 3rd quarter. Signaturefd LLC now owns 726 shares of the company’s stock valued at $30,000 after buying an additional 545 shares during the last quarter.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers 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; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.