Fox Factory (NASDAQ:FOXF) Releases Q2 2022 Earnings Guidance

Fox Factory (NASDAQ:FOXFGet Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.10-$1.25 for the period, compared to the consensus earnings per share estimate of $1.30. The company issued revenue guidance of $385.00 million-$405.00 million, compared to the consensus revenue estimate of $369.69 million.Fox Factory also updated its FY 2022 guidance to $5.00-$5.30 EPS.

Shares of Fox Factory stock traded down $0.39 during trading hours on Monday, reaching $78.57. 1,411 shares of the company were exchanged, compared to its average volume of 258,884. Fox Factory has a 1 year low of $74.67 and a 1 year high of $190.29. The stock’s fifty day moving average is $91.28 and its 200 day moving average is $129.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.93 and a current ratio of 3.05. The firm has a market cap of $3.31 billion, a PE ratio of 19.26, a PEG ratio of 0.78 and a beta of 1.80.

Fox Factory (NASDAQ:FOXFGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.18. Fox Factory had a net margin of 12.46% and a return on equity of 23.11%. The company had revenue of $377.98 million during the quarter, compared to the consensus estimate of $335.60 million. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Fox Factory’s revenue for the quarter was up 34.4% on a year-over-year basis. Research analysts expect that Fox Factory will post 5.17 earnings per share for the current year.

A number of research analysts have issued reports on FOXF shares. Zacks Investment Research raised shares of Fox Factory from a hold rating to a buy rating and set a $91.00 target price for the company in a report on Monday, May 9th. started coverage on shares of Fox Factory in a report on Thursday, March 31st. They issued a hold rating on the stock. TheStreet cut shares of Fox Factory from a b rating to a c+ rating in a research report on Thursday, March 10th. Finally, Truist Financial decreased their price target on shares of Fox Factory from $200.00 to $175.00 in a research report on Monday, February 28th.

A number of large investors have recently modified their holdings of FOXF. LPL Financial LLC lifted its position in Fox Factory by 165.1% in the 3rd quarter. LPL Financial LLC now owns 6,600 shares of the company’s stock worth $954,000 after buying an additional 4,110 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Fox Factory in the 1st quarter worth $946,000. Renaissance Group LLC grew its position in Fox Factory by 5.4% in the 1st quarter. Renaissance Group LLC now owns 8,863 shares of the company’s stock worth $868,000 after purchasing an additional 458 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Fox Factory by 56.3% during the 1st quarter. Blair William & Co. IL now owns 8,345 shares of the company’s stock valued at $817,000 after acquiring an additional 3,007 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Fox Factory during the 1st quarter valued at about $527,000. Hedge funds and other institutional investors own 99.49% of the company’s stock.

Fox Factory Company Profile (Get Rating)

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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