Fox Factory (NASDAQ:FOXF) Issues FY 2021 Earnings Guidance

Fox Factory (NASDAQ:FOXF) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $4.350-$4.550 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.410. The company issued revenue guidance of $1.27 billion-$1.29 billion, compared to the consensus revenue estimate of $1.24 billion.Fox Factory also updated its Q4 2021 guidance to $0.900-$1.100 EPS.

Separately, Zacks Investment Research raised Fox Factory from a hold rating to a buy rating and set a $210.00 target price on the stock in a report on Tuesday, November 16th.

Shares of NASDAQ FOXF traded down $1.87 during trading on Thursday, hitting $183.44. The company had a trading volume of 83,584 shares, compared to its average volume of 213,185. The company has a market cap of $7.72 billion, a P/E ratio of 49.18, a PEG ratio of 1.64 and a beta of 1.78. Fox Factory has a 52 week low of $85.29 and a 52 week high of $190.29. The business’s 50-day moving average is $161.24 and its 200 day moving average is $156.10. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.97 and a current ratio of 2.89.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, November 4th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.06. Fox Factory had a net margin of 12.95% and a return on equity of 23.50%. The firm had revenue of $347.44 million for the quarter, compared to analysts’ expectations of $317.73 million. During the same period in the previous year, the company posted $1.07 EPS. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. On average, research analysts expect that Fox Factory will post 4.49 EPS for the current year.

In other Fox Factory news, CEO Michael C. Dennison sold 5,000 shares of Fox Factory stock in a transaction that occurred on Thursday, October 14th. The shares were sold at an average price of $154.00, for a total transaction of $770,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Morgan Stanley grew its holdings in shares of Fox Factory by 9.9% during the 2nd quarter. Morgan Stanley now owns 121,660 shares of the company’s stock valued at $18,937,000 after acquiring an additional 10,936 shares in the last quarter. UBS Group AG grew its holdings in shares of Fox Factory by 15.6% during the 3rd quarter. UBS Group AG now owns 13,337 shares of the company’s stock valued at $1,927,000 after acquiring an additional 1,798 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Fox Factory by 165.1% during the 3rd quarter. LPL Financial LLC now owns 6,600 shares of the company’s stock valued at $954,000 after acquiring an additional 4,110 shares in the last quarter.

Fox Factory Company Profile

Fox Factory Holding Corp. engages in designing, engineering, manufacturing and marketing performance ride dynamics products. The firm offers bicycles, side-by-sides and on-road vehicles with off-road capabilities, off-road vehicles and trucks, all – terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles.

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Earnings History and Estimates for Fox Factory (NASDAQ:FOXF)

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