Fox Factory (NASDAQ:FOXF – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.30-2.55 for the period, compared to the consensus 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.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on FOXF shares. Truist Financial lowered their price target on Fox Factory from $90.00 to $60.00 and set a buy rating for the company in a research note on Friday, February 23rd. Bank of America downgraded shares of Fox Factory from a buy rating to a neutral rating and set a $55.00 target price for the company. in a research report on Friday, February 23rd. StockNews.com downgraded shares of Fox Factory from a hold rating to a sell rating in a report on Monday, February 26th. Finally, Stifel Nicolaus decreased their price objective on shares of Fox Factory from $56.00 to $45.00 and set a hold rating for the company in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Fox Factory currently has an average rating of Hold and an average target price of $66.00.
Get Our Latest Stock Report on Fox Factory
Fox Factory Stock Performance
Fox Factory (NASDAQ:FOXF – Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.34). The business had revenue of $332.50 million for the quarter, compared to analyst estimates of $327.07 million. Fox Factory had a return on equity of 13.86% and a net margin of 8.25%. Fox Factory’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS. Sell-side analysts anticipate that Fox Factory will post 2.42 EPS for the current 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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