Fox Factory Holding Corp (FOXF) Expected to Announce Earnings of $0.34 Per Share

Wall Street analysts expect that Fox Factory Holding Corp (NASDAQ:FOXF) will post earnings per share of $0.34 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Fox Factory’s earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.32. Fox Factory posted earnings of $0.35 per share in the same quarter last year, which suggests a negative year over year growth rate of 2.9%. The company is scheduled to issue its next earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that Fox Factory will report full year earnings of $1.78 per share for the current financial year, with EPS estimates ranging from $1.75 to $1.81. For the next financial year, analysts anticipate that the company will post earnings of $1.99 per share, with EPS estimates ranging from $1.95 to $2.07. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Fox Factory.

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Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. Fox Factory had a net margin of 9.07% and a return on equity of 27.95%. The firm had revenue of $121.09 million for the quarter, compared to analyst estimates of $118.84 million.

Several brokerages have issued reports on FOXF. BidaskClub upgraded shares of Fox Factory from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. Zacks Investment Research upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, April 4th. ValuEngine raised shares of Fox Factory from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, DA Davidson raised shares of Fox Factory from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $39.67.

FOXF stock traded down $0.10 during midday trading on Thursday, hitting $35.20. The company’s stock had a trading volume of 240,908 shares, compared to its average volume of 253,686. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.40. Fox Factory has a twelve month low of $26.70 and a twelve month high of $46.80. The firm has a market capitalization of $1,325.50, a P/E ratio of 22.28, a PEG ratio of 1.88 and a beta of 0.63.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Fox Factory by 2.3% in the 4th quarter. BlackRock Inc. now owns 4,549,511 shares of the company’s stock valued at $176,748,000 after acquiring an additional 103,233 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Fox Factory by 14.8% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,580,566 shares of the company’s stock valued at $61,405,000 after acquiring an additional 204,155 shares during the period. Standard Life Aberdeen plc grew its position in shares of Fox Factory by 14.8% in the 4th quarter. Standard Life Aberdeen plc now owns 1,327,848 shares of the company’s stock valued at $51,587,000 after acquiring an additional 171,247 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Fox Factory by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,306,088 shares of the company’s stock valued at $56,292,000 after acquiring an additional 10,299 shares during the period. Finally, Neuberger Berman Group LLC grew its position in shares of Fox Factory by 187.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,144,537 shares of the company’s stock valued at $49,330,000 after acquiring an additional 746,191 shares during the period. 98.07% of the stock is owned by institutional investors.

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About Fox Factory

Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.

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