Fox Factory (NASDAQ:FOXF – Get Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.10-$1.25 for the period, compared to the consensus estimate of $1.30. The company issued revenue guidance of $385.00 million-$405.00 million, compared to the consensus revenue estimate of $369.69 million.Fox Factory also updated its FY 2022 guidance to $5.00-$5.30 EPS.
FOXF stock traded up $1.09 during midday trading on Monday, hitting $80.10. 6,848 shares of the company’s stock were exchanged, compared to its average volume of 256,909. The business has a 50-day simple moving average of $88.60 and a two-hundred day simple moving average of $125.65. 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 has a market capitalization of $3.38 billion, a PE ratio of 19.54, a P/E/G ratio of 0.80 and a beta of 1.80. Fox Factory has a 1-year low of $74.37 and a 1-year high of $190.29.
Fox Factory (NASDAQ:FOXF – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.14 by $0.18. Fox Factory had a return on equity of 23.11% and a net margin of 12.46%. The business had revenue of $377.98 million during the quarter, compared to analyst estimates of $335.60 million. During the same period last year, the business posted $1.05 earnings per share. The company’s quarterly revenue was up 34.4% on a year-over-year basis. As a group, research analysts expect that Fox Factory will post 5.17 EPS for the current fiscal year.
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Several research analysts have recently commented on the company. TheStreet lowered Fox Factory from a b rating to a c+ rating in a research report on Thursday, March 10th. StockNews.com initiated coverage on Fox Factory in a research note on Thursday, March 31st. They issued a hold rating on the stock. Truist Financial cut their price target on Fox Factory from $200.00 to $175.00 in a research note on Monday, February 28th. Finally, Zacks Investment Research upgraded Fox Factory from a hold rating to a buy rating and set a $91.00 price target on the stock in a research note on Monday, May 9th.
Institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd increased its position in shares of Fox Factory by 58.4% during the first quarter. Covestor Ltd now owns 358 shares of the company’s stock worth $35,000 after purchasing an additional 132 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Fox Factory during the first quarter worth about $69,000. Captrust Financial Advisors increased its position in shares of Fox Factory by 167.5% during the first quarter. Captrust Financial Advisors now owns 840 shares of the company’s stock worth $82,000 after purchasing an additional 526 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Fox Factory during the first quarter worth about $118,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Fox Factory during the first quarter worth about $250,000. Institutional investors and hedge funds own 99.49% of the company’s stock.
About Fox Factory (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.
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