Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors' attention, and produce big gains as well. However, these can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.
One such company that might be well-positioned for future earnings growth is Fox Factory Holding Corp.FOXF . This firm, which is in the Automotive - Domestic industry, saw EPS growth of 21.8% last year, and is looking great for this year too.
In fact, the current growth estimate for this year calls for earnings-per-share growth of 21.3%. Furthermore, the long-term growth rate is currently an impressive 16%, suggesting pretty good prospects for the long haul.
And if this wasn't enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 4.2%. Thanks to this rise in earnings estimates, FOXF has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Fox Factory Holding Corp. Price and Consensus
So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider FOXF. Not only does it have double digit earnings growth prospect, but its impressive Zacks Rank suggests that analysts believe better days are ahead for FOXF as well.
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.