Fox Factory Holding Corp. (NASDAQ:FOXF – Get Rating)’s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $94.48, but opened at $101.10. Fox Factory shares last traded at $108.61, with a volume of 1,959 shares changing hands.
The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.22 by $0.16. The business had revenue of $406.71 million during the quarter, compared to analyst estimates of $399.13 million. Fox Factory had a net margin of 12.46% and a return on equity of 23.11%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS.
Wall Street Analyst Weigh In
Several research firms have weighed in on FOXF. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and lifted their price objective for the company from $88.00 to $115.00 in a research report on Friday. Jefferies Financial Group dropped their price target on Fox Factory from $140.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, June 24th.
Institutional Trading of Fox Factory
Hedge funds have recently made changes to their positions in the stock. Covestor Ltd purchased a new stake in shares of Fox Factory in the fourth quarter worth $38,000. Logan Capital Management Inc. lifted its stake in shares of Fox Factory by 34.5% in the first quarter. Logan Capital Management Inc. now owns 601 shares of the company’s stock worth $59,000 after buying an additional 154 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Fox Factory by 375.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 656 shares of the company’s stock worth $52,000 after acquiring an additional 518 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Fox Factory during the 1st quarter valued at $69,000. Finally, Ellevest Inc. increased its holdings in shares of Fox Factory by 483.7% in the 2nd quarter. Ellevest Inc. now owns 753 shares of the company’s stock worth $61,000 after purchasing an additional 624 shares in the last quarter. 99.49% of the stock is owned by institutional investors.
Fox Factory Price Performance
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The firm has a 50-day moving average of $85.20 and a 200 day moving average of $97.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.05 and a quick ratio of 1.93. The company has a market capitalization of $4.59 billion, a PE ratio of 23.04, a PEG ratio of 0.95 and a beta of 1.72.
Fox Factory Company Profile
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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