Fox Factory (NASDAQ:FOXF) Issues FY 2022 Earnings Guidance

Fox Factory (NASDAQ:FOXFGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $5.00-$5.30 for the period, compared to the consensus EPS estimate of $5.05. The company issued revenue guidance of $1.53 billion-$1.56 billion, compared to the consensus revenue estimate of $1.52 billion. Fox Factory also updated its FY22 guidance to $5.00-5.30 EPS.

Analyst Ratings Changes

FOXF has been the topic of a number of analyst reports. Stifel Nicolaus upgraded shares of Fox Factory from a hold rating to a buy rating and increased their price objective for the stock from $88.00 to $115.00 in a research note on Friday. Jefferies Financial Group reduced their price target on Fox Factory from $140.00 to $110.00 and set a buy rating for the company in a report on Friday, June 24th.

Fox Factory Stock Up 12.2 %

NASDAQ FOXF traded up $11.57 during trading hours on Friday, hitting $106.05. The company had a trading volume of 663,622 shares, compared to its average volume of 191,988. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.02 and a beta of 1.72. Fox Factory has a fifty-two week low of $69.28 and a fifty-two week high of $190.29. The firm’s 50 day moving average is $85.72 and its 200 day moving average is $96.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.05 and a quick ratio of 1.93.

Fox Factory (NASDAQ:FOXFGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.16. The business had revenue of $406.71 million for the quarter, compared to analyst estimates of $399.13 million. Fox Factory had a net margin of 12.42% and a return on equity of 23.36%. The firm’s revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 EPS. Sell-side analysts anticipate that Fox Factory will post 5.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fox Factory

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Fox Factory by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 4,035,929 shares of the company’s stock worth $395,319,000 after acquiring an additional 50,702 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Fox Factory by 0.3% in the first quarter. Clearbridge Investments LLC now owns 1,600,160 shares of the company’s stock valued at $156,736,000 after purchasing an additional 4,061 shares during the period. State Street Corp boosted its stake in shares of Fox Factory by 2.0% in the first quarter. State Street Corp now owns 1,293,998 shares of the company’s stock worth $126,747,000 after acquiring an additional 25,589 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Fox Factory by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 777,339 shares of the company’s stock valued at $76,146,000 after purchasing an additional 4,906 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Fox Factory by 5.4% in the 1st quarter. Royal Bank of Canada now owns 365,242 shares of the company’s stock valued at $35,776,000 after buying an additional 18,613 shares during the period. Hedge funds and other institutional investors own 99.49% of the company’s stock.

Fox Factory Company Profile

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Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and 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.

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

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