Fox Factory (NASDAQ:FOXF – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.30-0.40 for the period, compared to the consensus EPS estimate of $0.53. The company issued revenue guidance of $340-360 million, compared to the consensus revenue estimate of $379.40 million. Fox Factory also updated its FY24 guidance to $2.30-2.55 EPS.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Fox Factory from a hold rating to a sell rating in a report on Monday, February 26th. Bank of America cut shares of Fox Factory from a buy rating to a neutral rating and set a $55.00 price objective for the company. in a report on Friday, February 23rd. Roth Mkm dropped their target price on Fox Factory from $55.00 to $45.00 and set a neutral rating on the stock in a report on Friday. Stifel Nicolaus cut their target price on Fox Factory from $56.00 to $45.00 and set a hold rating for the company in a research report on Wednesday, April 24th. Finally, B. Riley lowered their price target on Fox Factory from $50.00 to $45.00 and set a neutral rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Fox Factory has a consensus rating of Hold and an average price target of $48.00.
View Our Latest Report on FOXF
Fox Factory Price Performance
Fox Factory (NASDAQ:FOXF – Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. The business had revenue of $333.50 million during the quarter, compared to the consensus estimate of $327.58 million. Fox Factory had a return on equity of 10.50% and a net margin of 5.41%. During the same period in the prior year, the business posted $1.20 earnings per share. Fox Factory’s revenue was down 16.6% compared to the same quarter last year. As a group, analysts anticipate that Fox Factory will post 2.42 earnings per share for the current fiscal year.
About Fox Factory
Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.
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