Holley (NYSE:HLLY) Releases Earnings Results, Misses Estimates By $0.04 EPS

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

Holley Price Performance

Shares of NYSE HLLY traded down $0.12 during trading on Friday, reaching $2.64. The company had a trading volume of 1,601,846 shares, compared to its average volume of 352,073. The company has a current ratio of 2.80, a quick ratio of 1.19 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $316.21 million, a PE ratio of 13.89 and a beta of 1.45. Holley has a twelve month low of $2.29 and a twelve month high of $5.23. The stock has a 50-day moving average price of $2.94 and a two-hundred day moving average price of $3.38.

Analyst Ratings Changes

HLLY has been the subject of a number of research analyst reports. Truist Financial cut their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group decreased their price target on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Holley in a research note on Wednesday, September 4th. Raymond James decreased their target price on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.