Fox Factory (NASDAQ:FOXF) Issues Q2 Earnings Guidance

Fox Factory (NASDAQ:FOXF) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.30-0.40 for the period, compared to the consensus EPS estimate of $0.53. The company issued revenue guidance of $340-360 million, compared to the consensus revenue estimate of $379.40 million. Fox Factory also updated its FY24 guidance to $2.30-2.55 EPS.

Analyst Upgrades and Downgrades

FOXF has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price target on shares of Fox Factory from $55.00 to $48.00 and set a neutral rating on the stock in a report on Friday. Stifel Nicolaus cut their target price on shares of Fox Factory from $56.00 to $45.00 and set a hold rating for the company in a research report on Wednesday, April 24th. StockNews.com cut Fox Factory from a hold rating to a sell rating in a report on Monday, February 26th. Bank of America lowered Fox Factory from a buy rating to a neutral rating and set a $55.00 price objective for the company. in a report on Friday, February 23rd. Finally, Roth Mkm lowered their target price on Fox Factory from $55.00 to $45.00 and set a neutral rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $48.00.

Fox Factory Stock Performance

NASDAQ:FOXF traded up $4.10 during mid-day trading on Friday, hitting $43.52. 1,149,487 shares of the company traded hands, compared to its average volume of 638,720. The stock’s fifty day moving average price is $46.45 and its 200-day moving average price is $59.53. The company has a quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. Fox Factory has a one year low of $37.98 and a one year high of $117.68. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 3.66 and a beta of 1.68.

Fox Factory (NASDAQ:FOXF) last released its earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. The company had revenue of $333.50 million during 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%. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. Research analysts anticipate that Fox Factory will post 2.42 earnings per share for the current fiscal year.

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.