Fox Factory Holding Corp. (NASDAQ:FOXF – Get Rating) – Equities researchers at Jefferies Financial Group lowered their Q3 2022 earnings per share estimates for Fox Factory in a research report issued on Wednesday, October 12th. Jefferies Financial Group analyst R. Konik now forecasts that the company will earn $1.22 per share for the quarter, down from their prior estimate of $1.33. Jefferies Financial Group has a “Buy” rating and a $110.00 price target on the stock. The consensus estimate for Fox Factory’s current full-year earnings is $5.19 per share. Jefferies Financial Group also issued estimates for Fox Factory’s Q1 2023 earnings at $1.35 EPS.
FOXF has been the subject of several other research reports. StockNews.com started coverage on Fox Factory in a report on Wednesday. They set a “hold” rating for the company. Stifel Nicolaus raised Fox Factory from a “hold” rating to a “buy” rating and boosted their price target for the company from $88.00 to $115.00 in a report on Friday, August 5th. Finally, Truist Financial cut their price target on Fox Factory from $130.00 to $108.00 and set a “buy” rating for the company in a report on Wednesday, October 5th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.00.
Fox Factory Stock Performance
NASDAQ:FOXF opened at $83.22 on Friday. The stock has a 50-day simple moving average of $92.40 and a two-hundred day simple moving average of $88.31. Fox Factory has a 52-week low of $69.28 and a 52-week high of $190.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.10 and a current ratio of 3.38. The firm has a market capitalization of $3.52 billion, a PE ratio of 19.31, a P/E/G ratio of 0.74 and a beta of 1.70.
Fox Factory (NASDAQ:FOXF – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.16. The company had revenue of $406.71 million during the quarter, compared to analysts’ expectations of $399.13 million. Fox Factory had a return on equity of 22.70% and a net margin of 12.42%. Fox Factory’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share.
Hedge Funds Weigh In On Fox Factory
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. boosted its stake in Fox Factory by 1.4% during the second quarter. Whittier Trust Co. now owns 40,465 shares of the company’s stock valued at $3,259,000 after buying an additional 545 shares during the last quarter. Logan Capital Management Inc. boosted its stake in Fox Factory by 34.5% during the first quarter. Logan Capital Management Inc. now owns 601 shares of the company’s stock valued at $59,000 after buying an additional 154 shares during the last quarter. Advisor Group Holdings Inc. raised its position in Fox Factory by 42.6% during the first quarter. Advisor Group Holdings Inc. now owns 9,024 shares of the company’s stock valued at $896,000 after purchasing an additional 2,695 shares during the period. Royce & Associates LP purchased a new stake in Fox Factory during the first quarter valued at approximately $5,040,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Fox Factory during the first quarter valued at approximately $724,000. 98.71% of the stock is owned by institutional investors.
Insider Transactions at Fox Factory
In other news, insider Christopher Tutton sold 8,055 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $103.21, for a total value of $831,356.55. Following the completion of the transaction, the insider now owns 11,712 shares of the company’s stock, valued at $1,208,795.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Elizabeth A. Fetter sold 2,600 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $99.32, for a total transaction of $258,232.00. Following the completion of the transaction, the director now directly owns 2,056 shares of the company’s stock, valued at $204,201.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Tutton sold 8,055 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $103.21, for a total value of $831,356.55. Following the transaction, the insider now directly owns 11,712 shares of the company’s stock, valued at $1,208,795.52. The disclosure for this sale can be found here. Insiders sold a total of 12,655 shares of company stock valued at $1,298,449 over the last 90 days. Company insiders own 0.24% of the company’s stock.
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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