Fox Factory Holding (FOXF - Free Report) shares rallied 5% in the last trading session to close at $132.46. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.8% loss over the past four weeks.
Fox Factory extended its rally for the third consecutive day as investors are encouraged with the progress of its Georgia manufacturing facility, which remains well on track and is likely to result in margin improvements for the firm, once completed. Fox Factory’s robust backlog, innovative product pipeline, along with strong revenue and growth visibility are driving the stock.
Price and Consensus
This vehicle suspension maker is expected to post quarterly earnings of $0.82 per share in its upcoming report, which represents a year-over-year change of +57.7%. Revenues are expected to be $267.61 million, up 45.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Fox Factory Holding, the consensus EPS estimate for the quarter has been revised 17.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Fox Factory Holding (FOXF - Free Report) shares rallied 5% in the last trading session to close at $132.46. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.8% loss over the past four weeks.
Fox Factory extended its rally for the third consecutive day as investors are encouraged with the progress of its Georgia manufacturing facility, which remains well on track and is likely to result in margin improvements for the firm, once completed. Fox Factory’s robust backlog, innovative product pipeline, along with strong revenue and growth visibility are driving the stock.
Price and Consensus
This vehicle suspension maker is expected to post quarterly earnings of $0.82 per share in its upcoming report, which represents a year-over-year change of +57.7%. Revenues are expected to be $267.61 million, up 45.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Fox Factory Holding, the consensus EPS estimate for the quarter has been revised 17.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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