Q3 2024 Earnings Estimate for Holley Inc. (NYSE:HLLY) Issued By Telsey Advisory Group

Holley Inc. (NYSE:HLLY) – Telsey Advisory Group dropped their Q3 2024 earnings per share (EPS) estimates for Holley in a note issued to investors on Wednesday, August 7th. Telsey Advisory Group analyst J. Feldman now forecasts that the company will post earnings of $0.03 per share for the quarter, down from their prior forecast of $0.08. Telsey Advisory Group has a “Outperform” rating and a $5.50 price objective on the stock. The consensus estimate for Holley’s current full-year earnings is $0.27 per share. Telsey Advisory Group also issued estimates for Holley’s Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.11 EPS, Q3 2025 earnings at $0.07 EPS, Q4 2025 earnings at $0.10 EPS and FY2025 earnings at $0.36 EPS.

A number of other equities analysts have also recently issued reports on the company. Raymond James lowered their target price on Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a report on Thursday. Benchmark reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Holley in a research note on Monday, August 5th. Canaccord Genuity Group cut their target price on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Truist Financial decreased their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.00.

Holley Stock Down 5.4 %

Shares of NYSE:HLLY opened at $2.97 on Friday. Holley has a 52-week low of $2.94 and a 52-week high of $8.06. The company has a market capitalization of $354.35 million, a PE ratio of 18.56 and a beta of 1.47. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.04 and a current ratio of 2.85. The company has a fifty day moving average of $3.57 and a 200-day moving average of $4.05.

Holley (NYSE:HLLY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Holley had a net margin of 2.89% and a return on equity of 4.32%. The business had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $170.40 million. During the same period in the prior year, the company earned $0.14 EPS. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Holley by 129.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock valued at $34,335,000 after purchasing an additional 5,409,997 shares in the last quarter. Skylands Capital LLC lifted its stake in Holley by 37.6% in the second quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock valued at $4,023,000 after buying an additional 306,874 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Holley by 52.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock worth $3,491,000 after buying an additional 334,940 shares in the last quarter. Norden Group LLC grew its position in shares of Holley by 1,717.0% during the 1st quarter. Norden Group LLC now owns 616,196 shares of the company’s stock worth $2,748,000 after buying an additional 582,283 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Holley by 1.3% in the 1st quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock valued at $1,801,000 after acquiring an additional 5,000 shares in the last quarter. 39.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Matthew E. Rubel purchased 14,493 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $3.39 per share, for a total transaction of $49,131.27. Following the transaction, the chairman now owns 169,979 shares of the company’s stock, valued at $576,228.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.92% of the company’s stock.

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.