Holley (NYSE:HLLY) Announces Earnings Results

Holley (NYSE:HLLY) announced its quarterly earnings results on Friday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04), RTT News reports. The business had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $142.53 million. Holley had a return on equity of 3.51% and a net margin of 3.56%. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. Holley updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Holley Price Performance

HLLY opened at $2.76 on Friday. The business has a 50 day moving average price of $2.94 and a two-hundred day moving average price of $3.37. The company has a quick ratio of 1.19, a current ratio of 2.80 and a debt-to-equity ratio of 1.18. The company has a market cap of $330.58 million, a PE ratio of 14.53 and a beta of 1.45. Holley has a 52 week low of $2.29 and a 52 week high of $5.23.

Analyst Ratings Changes

HLLY has been the subject of several research reports. Canaccord Genuity Group reduced their target price on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $12.00 target price on shares of Holley in a report on Wednesday, September 4th. Raymond James reduced their target price on Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a report on Thursday, August 8th. Telsey Advisory Group reissued an “outperform” rating and issued a $5.50 target price on shares of Holley in a report on Monday, September 9th. Finally, Truist Financial reduced their target price on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.54.

Holley Company Profile

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners, automotive performance plumbing products; and exhaust products, as well as shifters, converters, transmission kits, transmissions, tuners, and automotive software.