Fox Factory (NASDAQ:FOXF – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $4.900-$5.200 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.120. The company issued revenue guidance of $1.44 billion-$1.47 billion, compared to the consensus revenue estimate of $1.43 billion.Fox Factory also updated its Q1 2022 guidance to $1.000-$1.200 EPS.
Fox Factory stock traded down $3.71 during midday trading on Thursday, hitting $94.29. 8,755 shares of the stock were exchanged, compared to its average volume of 256,763. The company has a quick ratio of 1.94, a current ratio of 3.15 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.08 and a beta of 1.83. Fox Factory has a 52-week low of $94.66 and a 52-week high of $190.29. The business’s 50-day moving average price is $120.02 and its 200-day moving average price is $147.99.
Fox Factory (NASDAQ:FOXF – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.01. The business had revenue of $342.33 million during the quarter, compared to analysts’ expectations of $330.39 million. Fox Factory had a net margin of 12.61% and a return on equity of 23.05%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 EPS. On average, sell-side analysts predict that Fox Factory will post 5.13 earnings per share for the current fiscal year.
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A number of research analysts have weighed in on the stock. TheStreet cut shares of Fox Factory from a b rating to a c+ rating in a research report on Thursday, March 10th. Zacks Investment Research lowered shares of Fox Factory from a buy rating to a hold rating in a research note on Tuesday, March 1st. Finally, Truist Financial lowered their price objective on shares of Fox Factory from $200.00 to $175.00 in a research note on Monday, February 28th.
Large investors have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in shares of Fox Factory by 9.9% in the 2nd quarter. Morgan Stanley now owns 121,660 shares of the company’s stock worth $18,937,000 after purchasing an additional 10,936 shares during the last quarter. Barclays PLC grew its holdings in shares of Fox Factory by 9.0% in the 4th quarter. Barclays PLC now owns 60,924 shares of the company’s stock worth $10,363,000 after acquiring an additional 5,042 shares during the last quarter. LPL Financial LLC boosted its position in shares of Fox Factory by 165.1% in the third quarter. LPL Financial LLC now owns 6,600 shares of the company’s stock worth $954,000 after buying an additional 4,110 shares during the period. Legal & General Group Plc boosted its position in shares of Fox Factory by 4.2% in the fourth quarter. Legal & General Group Plc now owns 63,053 shares of the company’s stock worth $10,725,000 after buying an additional 2,567 shares during the period. Finally, UBS Group AG boosted its position in shares of Fox Factory by 15.6% in the third quarter. UBS Group AG now owns 13,337 shares of the company’s stock worth $1,927,000 after buying an additional 1,798 shares during the period.
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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