Fox Factory (NASDAQ:FOXF) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Fox Factory (NASDAQ:FOXF - Get Free Report) posted its earnings results on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07), Briefing.com reports. The company had revenue of $359.10 million during the quarter, compared to analysts' expectations of $366.86 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. Fox Factory's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS.

Fox Factory Price Performance

Shares of FOXF traded down $1.97 during trading hours on Friday, hitting $34.02. 3,211,660 shares of the stock were exchanged, compared to its average volume of 580,707. Fox Factory has a 12-month low of $31.19 and a 12-month high of $86.14. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.52 and a beta of 1.64. The stock's 50-day moving average price is $39.47 and its two-hundred day moving average price is $43.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13.

Insider Activity

In related news, CEO Michael C. Dennison purchased 4,800 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $41.44 per share, with a total value of $198,912.00. Following the completion of the acquisition, the chief executive officer now owns 135,066 shares in the company, valued at $5,597,135.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FOXF. Truist Financial reduced their target price on Fox Factory from $54.00 to $42.00 and set a "buy" rating on the stock in a research report on Friday. Roth Mkm cut their price objective on shares of Fox Factory from $45.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday. Robert W. Baird decreased their price objective on Fox Factory from $45.00 to $38.00 and set a "neutral" rating for the company in a report on Friday. B. Riley dropped their price objective on shares of Fox Factory from $50.00 to $45.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America decreased their target price on shares of Fox Factory from $53.00 to $43.00 and set a "neutral" rating for the company in a research note on Thursday, September 12th. One research 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's stock. According to MarketBeat.com, Fox Factory currently has a consensus rating of "Hold" and a consensus price target of $41.50.

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.