Fox Factory (NASDAQ:FOXF – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.30-2.55 for the period, compared to the consensus earnings per share estimate of $2.43. The company issued revenue guidance of $1.53-1.61 billion, compared to the consensus revenue estimate of $1.56 billion. Fox Factory also updated its Q2 guidance to $0.30-0.40 EPS.
Analyst Ratings Changes
A number of analysts recently weighed in on FOXF shares. Truist Financial decreased their price target on shares of Fox Factory from $60.00 to $50.00 and set a buy rating for the company in a research report on Friday. Robert W. Baird lowered their target price on Fox Factory from $55.00 to $48.00 and set a neutral rating for the company in a research note on Friday. Bank of America downgraded Fox Factory from a buy rating to a neutral rating and set a $55.00 target price on the stock. in a report on Friday, February 23rd. Roth Mkm decreased their price target on Fox Factory from $55.00 to $45.00 and set a neutral rating for the company in a report on Friday. Finally, B. Riley dropped their price objective on shares of Fox Factory from $50.00 to $45.00 and set a neutral rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $48.00.
View Our Latest Stock Analysis on Fox Factory
Fox Factory Stock Up 10.4 %
Fox Factory (NASDAQ:FOXF – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 5.41% and a return on equity of 10.50%. The business’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. As a group, equities research analysts expect that Fox Factory will post 2.42 EPS for the current year.
Fox Factory Company Profile
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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