Analysts Expect Fox Factory Holding Corp (FOXF) Will Post Quarterly Sales of $117.11 Million
Analysts expect Fox Factory Holding Corp (NASDAQ:FOXF) to announce $117.11 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Fox Factory Holding Corp’s earnings. The lowest sales estimate is $115.9 million and the highest is $118.6 million. Fox Factory Holding Corp reported sales of $102.29 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.5%. The company is expected to issue its next earnings report on Wednesday, August 2nd.
On average, analysts expect that Fox Factory Holding Corp will report full year sales of $117.11 million for the current financial year, with estimates ranging from $450 million to $455.25 million. For the next financial year, analysts expect that the business will post sales of $488.34 million per share, with estimates ranging from $474.3 million to $494.9 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Fox Factory Holding Corp.
Fox Factory Holding Corp (NASDAQ:FOXF) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.08. Fox Factory Holding Corp had a return on equity of 27.68% and a net margin of 8.44%. The business had revenue of $106.33 million during the quarter, compared to analyst estimates of $97.31 million.
A number of equities analysts have recently issued reports on FOXF shares. Zacks Investment Research cut Fox Factory Holding Corp from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. DA Davidson reissued a “buy” rating and issued a $32.00 target price on shares of Fox Factory Holding Corp in a report on Tuesday, January 31st. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 target price on shares of Fox Factory Holding Corp in a report on Thursday, March 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $26.00 target price (up from $23.00) on shares of Fox Factory Holding Corp in a report on Wednesday, March 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $29.83.
Fox Factory Holding Corp (NASDAQ:FOXF) opened at 33.20 on Friday. The company’s 50-day moving average price is $30.49 and its 200-day moving average price is $27.56. Fox Factory Holding Corp has a 52-week low of $16.27 and a 52-week high of $34.00. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 29.64 and a beta of 0.69.
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In related news, SVP William H. Katherman sold 11,878 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $33.01, for a total transaction of $392,092.78. Following the completion of the sale, the senior vice president now directly owns 18,000 shares of the company’s stock, valued at approximately $594,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zvi Glasman sold 40,000 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $31.67, for a total value of $1,266,800.00. Following the sale, the chief financial officer now directly owns 62,100 shares of the company’s stock, valued at $1,966,707. The disclosure for this sale can be found here. Insiders have sold a total of 5,761,646 shares of company stock valued at $154,627,444 over the last ninety days. Insiders own 46.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted its stake in Fox Factory Holding Corp by 261.7% in the first quarter. LS Investment Advisors LLC now owns 3,711 shares of the company’s stock worth $107,000 after buying an additional 2,685 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Fox Factory Holding Corp by 22.8% in the first quarter. State of Alaska Department of Revenue now owns 3,830 shares of the company’s stock worth $109,000 after buying an additional 710 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Fox Factory Holding Corp by 11.3% in the first quarter. Victory Capital Management Inc. now owns 5,003 shares of the company’s stock worth $144,000 after buying an additional 509 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Fox Factory Holding Corp by 16.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,847 shares of the company’s stock worth $197,000 after buying an additional 955 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Fox Factory Holding Corp during the first quarter worth $211,000. 75.71% of the stock is owned by hedge funds and other institutional investors.
Fox Factory Holding Corp Company Profile
Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.
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