Fox Factory (NASDAQ:FOXF) Releases Q4 2021 Earnings Guidance

Fox Factory (NASDAQ:FOXF) updated its fourth quarter 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.900-$1.100 for the period, compared to the Thomson Reuters consensus estimate of $1.030. The company issued revenue guidance of $315 million-$335 million, compared to the consensus revenue estimate of $308.04 million.Fox Factory also updated its FY 2021 guidance to $4.350-$4.550 EPS.

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

Fox Factory stock traded down $1.87 during midday trading on Thursday, reaching $183.44. The company’s stock had a trading volume of 83,584 shares, compared to its average volume of 213,185. The stock’s 50-day simple moving average is $161.24 and its 200-day simple moving average is $156.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.89 and a quick ratio of 1.97. Fox Factory has a 52-week low of $85.29 and a 52-week high of $190.29. The stock has a market capitalization of $7.72 billion, a P/E ratio of 49.18, a PEG ratio of 1.64 and a beta of 1.78.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, November 4th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Fox Factory had a return on equity of 23.50% and a net margin of 12.95%. The company had revenue of $347.44 million during the quarter, compared to analysts’ expectations of $317.73 million. During the same period last year, the business posted $1.07 earnings per share. The firm’s revenue was up 33.3% compared to the same quarter last year. As a group, equities research analysts expect 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 stock in a transaction dated Thursday, October 14th. The stock was sold at an average price of $154.00, for a total value of $770,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Several large investors have recently made changes to their positions in FOXF. Morgan Stanley raised its stake in shares of Fox Factory by 9.9% in the second quarter. Morgan Stanley now owns 121,660 shares of the company’s stock worth $18,937,000 after purchasing an additional 10,936 shares during the last quarter. LPL Financial LLC raised its stake in shares of Fox Factory by 165.1% in the third quarter. LPL Financial LLC now owns 6,600 shares of the company’s stock worth $954,000 after purchasing an additional 4,110 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Fox Factory by 15.6% in the third quarter. UBS Group AG now owns 13,337 shares of the company’s stock worth $1,927,000 after purchasing an additional 1,798 shares during the last quarter.

About Fox Factory

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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