Fox Factory Holding Corp. (FOXF) Announces Quarterly Earnings Results
Fox Factory Holding Corp. (NASDAQ:FOXF) announced its earnings results on Wednesday. The company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02, Bloomberg Earnings reports. The company had revenue of $127.40 million during the quarter, compared to analyst estimates of $123.02 million. Fox Factory Holding Corp. had a net margin of 10.67% and a return on equity of 29.60%. Fox Factory Holding Corp.’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Fox Factory Holding Corp. updated its Q4 guidance to $0.30-$0.34 EPS and its FY17 guidance to $1.50-$1.54 EPS.
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In related news, CFO Zvi Glasman sold 10,200 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $39.34, for a total transaction of $401,268.00. Following the completion of the transaction, the chief financial officer now directly owns 82,325 shares in the company, valued at approximately $3,238,665.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP William H. Katherman sold 2,356 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $36.95, for a total value of $87,054.20. Following the transaction, the senior vice president now owns 32,750 shares of the company’s stock, valued at $1,210,112.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,739 shares of company stock worth $2,766,288. 21.40% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on FOXF shares. Zacks Investment Research raised shares of Fox Factory Holding Corp. from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Thursday, July 13th. ValuEngine raised shares of Fox Factory Holding Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $38.00 target price (up previously from $32.00) on shares of Fox Factory Holding Corp. in a research note on Wednesday, August 9th. Robert W. Baird reissued a “hold” rating and set a $40.00 price target on shares of Fox Factory Holding Corp. in a research report on Thursday, September 28th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $36.00 price target on shares of Fox Factory Holding Corp. in a research report on Friday, October 20th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $39.29.
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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