B. Riley Comments on Fox Factory Holding Corp.’s FY2024 Earnings (NASDAQ:FOXF)

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

A number of other brokerages also recently commented on FOXF. Bank of America downgraded shares of Fox Factory from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Friday, February 23rd. Robert W. Baird decreased 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. Stifel Nicolaus cut their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. StockNews.com downgraded Fox Factory from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Finally, Truist Financial lowered their price objective on Fox Factory from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.00.

Fox Factory Trading Up 10.4 %

FOXF opened at $43.52 on Monday. Fox Factory has a 12 month low of $37.98 and a 12 month high of $117.68. The stock has a fifty day moving average price of $46.45 and a 200-day moving average price of $59.31. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 3.66 and a beta of 1.68. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. The company had revenue of $333.50 million for the quarter, compared to analyst estimates of $327.58 million. Fox Factory had a net margin of 5.41% and a return on equity of 10.50%. Fox Factory’s revenue was down 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share.

Institutional Investors Weigh In On Fox Factory

Several institutional investors and hedge funds have recently made changes to their positions in FOXF. Vanguard Group Inc. raised its stake in Fox Factory by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,242,423 shares of the company’s stock worth $286,279,000 after acquiring an additional 46,132 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Fox Factory by 0.9% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,676,115 shares of the company’s stock worth $364,229,000 after purchasing an additional 33,703 shares during the period. FMR LLC boosted its position in Fox Factory by 46.2% in the third quarter. FMR LLC now owns 1,136,720 shares of the company’s stock valued at $112,626,000 after buying an additional 359,168 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in Fox Factory by 0.3% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,134,439 shares of the company’s stock worth $76,552,000 after buying an additional 3,935 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Fox Factory by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,862 shares of the company’s stock worth $55,461,000 after buying an additional 12,474 shares during the last quarter.

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.