Fox Factory (NASDAQ:FOXF) Releases FY 2021 Earnings Guidance

Fox Factory (NASDAQ:FOXF) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.350-$4.550 for the period, compared to the Thomson Reuters consensus estimate of $4.410. The company issued revenue guidance of $1.27 billion-$1.29 billion, compared to the consensus revenue estimate of $1.24 billion.Fox Factory also updated its Q4 2021 guidance to $0.900-$1.100 EPS.

Separately, Zacks Investment Research raised shares of Fox Factory from a hold rating to a buy rating and set a $210.00 target price on the stock in a research note on Tuesday, November 16th.

Fox Factory stock traded down $1.87 during trading hours on Thursday, hitting $183.44. 83,584 shares of the stock were exchanged, compared to its average volume of 213,185. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.97 and a current ratio of 2.89. The stock has a market capitalization of $7.72 billion, a P/E ratio of 49.18, a P/E/G ratio of 1.64 and a beta of 1.78. Fox Factory has a 12 month low of $85.29 and a 12 month high of $190.29. The business’s 50-day moving average is $161.24 and its two-hundred day moving average is $156.10.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, November 4th. The company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.06. The firm had revenue of $347.44 million for the quarter, compared to analysts’ expectations of $317.73 million. Fox Factory had a net margin of 12.95% and a return on equity of 23.50%. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. On average, equities analysts predict that Fox Factory will post 4.49 earnings per share for the current fiscal year.

In other Fox Factory news, CEO Michael C. Dennison sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 14th. The shares were sold at an average price of $154.00, for a total transaction of $770,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOXF. Morgan Stanley grew its stake in shares of Fox Factory by 9.9% during the second quarter. Morgan Stanley now owns 121,660 shares of the company’s stock valued at $18,937,000 after purchasing an additional 10,936 shares during the last quarter. LPL Financial LLC grew its stake in shares of Fox Factory by 165.1% during the third quarter. LPL Financial LLC now owns 6,600 shares of the company’s stock valued at $954,000 after purchasing an additional 4,110 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of Fox Factory by 15.6% during the third quarter. UBS Group AG now owns 13,337 shares of the company’s stock valued at $1,927,000 after purchasing an additional 1,798 shares during the last quarter.

Fox Factory Company Profile

Fox Factory Holding Corp. engages in designing, engineering, manufacturing and marketing performance ride dynamics products. The firm offers bicycles, side-by-sides and on-road vehicles with off-road capabilities, off-road vehicles and trucks, all – terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles.

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Earnings History and Estimates for Fox Factory (NASDAQ:FOXF)

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