Fox Factory (FOXF) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

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Fox Factory (NASDAQ:FOXF) released its earnings results on Wednesday. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07, Bloomberg Earnings reports. The firm had revenue of $161.70 million during the quarter, compared to analysts’ expectations of $156.30 million. Fox Factory had a net margin of 13.57% and a return on equity of 30.19%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. Fox Factory updated its Q2 guidance to $0.62-0.67 EPS and its FY19 guidance to $2.52-2.62 EPS.

Shares of NASDAQ FOXF opened at $74.77 on Friday. The stock has a market capitalization of $2.95 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.40. Fox Factory has a 1 year low of $34.75 and a 1 year high of $79.46.

In other Fox Factory news, Director Dudley W. Mendenhall sold 4,645 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $63.18, for a total transaction of $293,471.10. Following the sale, the director now directly owns 11,870 shares in the company, valued at approximately $749,946.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Larry L. Enterline sold 177,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $63.98, for a total transaction of $11,324,460.00. Following the sale, the chief executive officer now owns 95,335 shares in the company, valued at $6,099,533.30. The disclosure for this sale can be found here. Insiders sold a total of 213,395 shares of company stock worth $13,856,021 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Several equities analysts recently commented on FOXF shares. Zacks Investment Research cut shares of Fox Factory from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 24th. BidaskClub lowered shares of Fox Factory from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Finally, SunTrust Banks upped their target price on shares of Fox Factory to $70.00 and gave the stock a “hold” rating in a report on Thursday. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $64.71.

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About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, 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 for Fox Factory (NASDAQ:FOXF)

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