FY2024 Earnings Forecast for Fox Factory Holding Corp. Issued By B. Riley (NASDAQ:FOXF)

Fox Factory Holding Corp. (NASDAQ:FOXF) – Investment analysts at B. Riley decreased their FY2024 earnings per share estimates for shares of Fox Factory in a research note issued to investors on Friday, May 3rd. B. Riley analyst A. Glaessgen now anticipates that the company will earn $2.32 per share for the year, down from their previous estimate of $2.35. B. Riley has a “Neutral” rating and a $45.00 price target on the stock. The consensus estimate for Fox Factory’s current full-year earnings is $2.42 per share.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. The business had revenue of $333.50 million for the quarter, compared to the consensus estimate of $327.58 million. Fox Factory had a return on equity of 10.56% and a net margin of 5.41%. The company’s revenue was down 16.6% on a year-over-year basis. During the same period last year, the business posted $1.20 EPS.

A number of other equities analysts have also recently weighed in on the stock. Truist Financial decreased their price objective on shares of Fox Factory from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday. Stifel Nicolaus reduced their price objective on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Robert W. Baird dropped their target price on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday. Roth Mkm cut their target price on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, StockNews.com downgraded Fox Factory from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.83.

Fox Factory Trading Up 1.8 %

NASDAQ FOXF opened at $44.31 on Monday. The company’s fifty day simple moving average is $46.36 and its 200-day simple moving average is $58.99. The stock has a market cap of $1.86 billion, a P/E ratio of 24.75, a PEG ratio of 3.66 and a beta of 1.68. Fox Factory has a 52 week low of $37.98 and a 52 week high of $117.68. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63.

Institutional Investors Weigh In On Fox Factory

Several large investors have recently added to or reduced their stakes in the stock. Operose Advisors LLC bought a new stake in Fox Factory during the 3rd quarter valued at $37,000. Assetmark Inc. lifted its holdings in shares of Fox Factory by 171.4% during the third quarter. Assetmark Inc. now owns 380 shares of the company’s stock valued at $38,000 after purchasing an additional 240 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Fox Factory in the 4th quarter valued at $31,000. GAMMA Investing LLC purchased a new position in Fox Factory in the 4th quarter worth about $29,000. Finally, CWM LLC raised its holdings in Fox Factory by 54.1% during the 4th quarter. CWM LLC now owns 624 shares of the company’s stock worth $42,000 after buying an additional 219 shares during the period.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers 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; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.