We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fox Factory Holding (FOXF) Soars 7.1%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Fox Factory Holding (FOXF - Free Report) shares ended the last trading session 7.1% higher at $84.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0% gain over the past four weeks.
While there is no company-specific news that triggered Friday’s share price appreciation, the upsurge can be attributed to increasing demand for off-road vehicles amid the growing preference of the youth toward adventure. Sustained demand growth across the powersports industry and outdoor recreation combined with FOXF’s robust backlog and innovative product pipeline are set to boost the firm's run on the bourses, going forward. As such, the company lifted its full-year 2022 sales and profit projections on its last earnings call. It now envisions 2022 revenues and EPS in the band of $1.5-$1.53 billion and $5-$5.30, respectively.
This vehicle suspension maker is expected to post quarterly earnings of $1.22 per share in its upcoming report, which represents a year-over-year change of +1.7%. Revenues are expected to be $399.48 million, up 21.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Fox Factory Holding, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FOXF going forward to see if this recent jump can turn into more strength down the road.
Fox Factory Holding belongs to the Zacks Automotive - Domestic industry. Another stock from the same industry, Vroom (VRM - Free Report) , closed the last trading session 9.3% lower at $1.46. Over the past month, VRM has returned 11.8%.
For Vroom, the consensus EPS estimate for the upcoming report has changed +8.4% over the past month to -$0.77. This represents a change of -60.4% from what the company reported a year ago. Vroom currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Fox Factory Holding (FOXF) Soars 7.1%: Is Further Upside Left in the Stock?
Fox Factory Holding (FOXF - Free Report) shares ended the last trading session 7.1% higher at $84.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0% gain over the past four weeks.
While there is no company-specific news that triggered Friday’s share price appreciation, the upsurge can be attributed to increasing demand for off-road vehicles amid the growing preference of the youth toward adventure. Sustained demand growth across the powersports industry and outdoor recreation combined with FOXF’s robust backlog and innovative product pipeline are set to boost the firm's run on the bourses, going forward. As such, the company lifted its full-year 2022 sales and profit projections on its last earnings call. It now envisions 2022 revenues and EPS in the band of $1.5-$1.53 billion and $5-$5.30, respectively.
This vehicle suspension maker is expected to post quarterly earnings of $1.22 per share in its upcoming report, which represents a year-over-year change of +1.7%. Revenues are expected to be $399.48 million, up 21.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Fox Factory Holding, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FOXF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Fox Factory Holding belongs to the Zacks Automotive - Domestic industry. Another stock from the same industry, Vroom (VRM - Free Report) , closed the last trading session 9.3% lower at $1.46. Over the past month, VRM has returned 11.8%.
For Vroom, the consensus EPS estimate for the upcoming report has changed +8.4% over the past month to -$0.77. This represents a change of -60.4% from what the company reported a year ago. Vroom currently has a Zacks Rank of #3 (Hold).