Holley (NYSE:HLLY) Issues Earnings Results

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

Holley Price Performance

Shares of NYSE:HLLY opened at $2.76 on Friday. The business’s 50 day moving average is $2.94 and its 200 day moving average is $3.37. Holley has a 12-month low of $2.29 and a 12-month high of $5.23. The stock has a market cap of $330.59 million, a price-to-earnings ratio of 14.53 and a beta of 1.45. The company has a quick ratio of 1.19, a current ratio of 2.80 and a debt-to-equity ratio of 1.18.

Analysts Set New Price Targets

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

About Holley

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.