Zacks: Brokerages Anticipate Fox Factory Holding Corp (FOXF) Will Post Earnings of $0.33 Per Share

Equities analysts forecast that Fox Factory Holding Corp (NASDAQ:FOXF) will announce earnings of $0.33 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Fox Factory’s earnings, with estimates ranging from $0.32 to $0.34. Fox Factory reported earnings of $0.32 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The firm is expected to report its next quarterly earnings report on Wednesday, March 7th.

On average, analysts expect that Fox Factory will report full-year earnings of $1.53 per share for the current financial year, with EPS estimates ranging from $1.52 to $1.54. For the next fiscal year, analysts anticipate that the company will post earnings of $1.74 per share, with EPS estimates ranging from $1.67 to $1.78. Zacks Investment Research’s earnings per share 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 results 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. Fox Factory had a return on equity of 28.25% and a net margin of 10.76%. The firm had revenue of $127.40 million for the quarter, compared to analysts’ expectations of $123.02 million. During the same period in the prior year, the business posted $0.44 earnings per share. The business’s revenue was up 16.9% compared to the same quarter last year.

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

Shares of Fox Factory (FOXF) opened at $36.55 on Friday. Fox Factory has a 1 year low of $25.74 and a 1 year high of $46.80. The firm has a market capitalization of $1,419.09, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 1.48 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.48 and a quick ratio of 1.41.

In other news, CFO Zvi Glasman sold 15,000 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $39.72, for a total transaction of $595,800.00. Following the sale, the chief financial officer now owns 64,100 shares in the company, valued at $2,546,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Larry L. Enterline sold 75,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $38.08, for a total value of $2,856,000.00. Following the sale, the chief executive officer now owns 124,934 shares in the company, valued at approximately $4,757,486.72. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock worth $3,845,500 in the last 90 days. Company insiders own 21.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Fox Factory by 11.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,613,788 shares of the company’s stock valued at $285,055,000 after acquiring an additional 686,881 shares during the last quarter. BlackRock Inc. boosted its holdings in Fox Factory by 15.2% in the second quarter. BlackRock Inc. now owns 4,059,323 shares of the company’s stock valued at $144,512,000 after acquiring an additional 536,712 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Fox Factory by 7.7% in the second quarter. Vanguard Group Inc. now owns 1,808,368 shares of the company’s stock valued at $64,377,000 after acquiring an additional 129,129 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Fox Factory by 14.8% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,580,566 shares of the company’s stock valued at $61,405,000 after acquiring an additional 204,155 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Fox Factory by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,306,088 shares of the company’s stock valued at $56,292,000 after acquiring an additional 10,299 shares during the last quarter. Institutional investors own 99.09% of the company’s stock.

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About Fox Factory

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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