Fox Factory (NASDAQ:FOXF) Releases FY24 Earnings Guidance

Fox Factory (NASDAQ:FOXF) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.30-2.55 for the period, compared to the consensus estimate of $2.43. The company issued revenue guidance of $1.53-1.61 billion, compared to the consensus revenue estimate of $1.56 billion. Fox Factory also updated its Q2 guidance to $0.30-0.40 EPS.

Analysts Set New Price Targets

Several analysts recently commented on FOXF shares. Roth Mkm reduced 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. Stifel Nicolaus decreased their price objective 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 lowered shares of Fox Factory from a hold rating to a sell rating in a report on Monday, February 26th. Robert W. Baird decreased their price target on Fox Factory from $55.00 to $48.00 and set a neutral rating for the company in a report on Friday. Finally, Bank of America downgraded Fox Factory from a buy rating to a neutral rating and set a $55.00 price objective on the stock. in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $48.00.

Fox Factory Stock Up 10.4 %

Shares of FOXF traded up $4.10 during trading hours on Friday, reaching $43.52. 1,149,487 shares of the stock traded hands, compared to its average volume of 638,720. Fox Factory has a 52 week low of $37.98 and a 52 week high of $117.68. The company has a current ratio of 3.70, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $46.45 and a 200 day simple moving average of $59.53. The company 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.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a return on equity of 10.50% and a net margin of 5.41%. The company had revenue of $333.50 million during the quarter, compared to the consensus estimate of $327.58 million. During the same period last year, the business posted $1.20 earnings per share. Fox Factory’s revenue was down 16.6% on a year-over-year basis. On average, equities analysts forecast that Fox Factory will post 2.42 EPS for the current 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.