Zacks: Brokerages Expect Fox Factory Holding Corp (FOXF) Will Announce Quarterly Sales of $118.84 Million

Wall Street brokerages expect Fox Factory Holding Corp (NASDAQ:FOXF) to announce sales of $118.84 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Fox Factory’s earnings, with the highest sales estimate coming in at $121.61 million and the lowest estimate coming in at $116.60 million. Fox Factory reported sales of $111.56 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.5%. The firm is expected to issue its next earnings report on Wednesday, March 7th.

On average, analysts expect that Fox Factory will report full year sales of $118.84 million for the current financial year, with estimates ranging from $471.10 million to $476.15 million. For the next financial year, analysts anticipate that the firm will report sales of $552.92 million per share, with estimates ranging from $544.60 million to $559.72 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Fox Factory.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $127.40 million during the quarter, compared to analyst estimates of $123.02 million. Fox Factory had a net margin of 10.76% and a return on equity of 28.25%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS.

Several equities analysts recently issued reports on FOXF shares. Bank of America boosted their target price on shares of Fox Factory from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, October 24th. William Blair cut shares of Fox Factory from an “outperform” rating to a “market perform” rating in a research note on Friday, October 13th. Zacks Investment Research cut shares of Fox Factory from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. SunTrust Banks restated a “hold” rating and set a $36.00 price objective on shares of Fox Factory in a research report on Friday, October 20th. Finally, Stifel Nicolaus restated a “hold” rating and set a $44.00 price objective on shares of Fox Factory in a research report on Sunday, December 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Fox Factory presently has a consensus rating of “Hold” and a consensus price target of $39.43.

Fox Factory (NASDAQ:FOXF) traded down $0.85 on Friday, hitting $39.35. 129,600 shares of the company traded hands, compared to its average volume of 218,825. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.41 and a current ratio of 2.48. Fox Factory has a 1 year low of $25.25 and a 1 year high of $46.80. The firm has a market cap of $1,509.19, a PE ratio of 30.50, a P/E/G ratio of 1.58 and a beta of 0.62.

In other news, CEO Larry L. Enterline sold 75,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $38.08, for a total value of $2,856,000.00. Following the completion of the sale, the chief executive officer now directly owns 124,934 shares in the company, valued at $4,757,486.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Zvi Glasman sold 10,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $39.37, for a total transaction of $393,700.00. Following the completion of the sale, the chief financial officer now owns 160,331 shares of the company’s stock, valued at $6,312,231.47. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock valued at $3,845,500 over the last 90 days. 21.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its position in shares of Fox Factory by 76.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock worth $110,000 after purchasing an additional 1,332 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Fox Factory during the 2nd quarter worth $111,000. Pinebridge Investments L.P. boosted its position in shares of Fox Factory by 20.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,564 shares of the company’s stock worth $163,000 after purchasing an additional 778 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Fox Factory by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,883 shares of the company’s stock worth $209,000 after purchasing an additional 880 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in shares of Fox Factory during the 3rd quarter worth $209,000. Institutional investors and hedge funds own 97.78% of the company’s stock.

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Fox Factory 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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