Fox Factory (NASDAQ:FOXF) Shares Gap Down Following Weak Earnings

Fox Factory Holding Corp. (NASDAQ:FOXF) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $21.96, but opened at $16.69. Fox Factory shares last traded at $16.58, with a volume of 303,631 shares.

The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.33). Fox Factory had a positive return on equity of 5.03% and a negative net margin of 17.50%.The firm had revenue of $376.36 million during the quarter, compared to the consensus estimate of $382.59 million. During the same quarter last year, the company posted $0.35 EPS. Fox Factory’s revenue for the quarter was up 4.8% compared to the same quarter last year. Fox Factory has set its FY 2025 guidance at 0.920-1.120 EPS. Q4 2025 guidance at 0.050-0.250 EPS.

Wall Street Analyst Weigh In

FOXF has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research note on Wednesday, October 8th. Stifel Nicolaus set a $33.00 target price on shares of Fox Factory in a report on Tuesday, October 7th. Finally, B. Riley reissued a “neutral” rating and set a $32.00 price target (up previously from $26.00) on shares of Fox Factory in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FOXF. First Horizon Corp bought a new stake in Fox Factory during the 3rd quarter worth approximately $25,000. Federated Hermes Inc. purchased a new stake in shares of Fox Factory during the third quarter worth about $25,000. CWM LLC raised its stake in Fox Factory by 76.2% during the 1st quarter. CWM LLC now owns 1,341 shares of the company’s stock valued at $31,000 after purchasing an additional 580 shares during the period. GAMMA Investing LLC boosted its stake in Fox Factory by 254.1% in the 1st quarter. GAMMA Investing LLC now owns 1,696 shares of the company’s stock worth $40,000 after purchasing an additional 1,217 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Fox Factory by 474.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,993 shares of the company’s stock valued at $47,000 after buying an additional 1,646 shares in the last quarter.

Fox Factory Price Performance

The company has a quick ratio of 1.36, a current ratio of 3.03 and a debt-to-equity ratio of 0.70. The stock has a market cap of $702.76 million, a PE ratio of -2.73 and a beta of 1.43. The firm’s fifty day moving average price is $25.04 and its 200 day moving average price is $25.85.

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.