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

Holley (NYSE:HLLY) released its quarterly 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 firm had revenue of $134.00 million during the quarter, compared to analyst estimates of $142.53 million. Holley had a return on equity of 3.51% and a net margin of 3.56%. The business’s revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. Holley updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Holley Stock Performance

Shares of HLLY opened at $2.76 on Friday. 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 firm has a market capitalization of $330.58 million, a P/E ratio of 14.53 and a beta of 1.45. The stock’s fifty day simple moving average is $2.94 and its 200 day simple moving average is $3.37. Holley has a twelve month low of $2.29 and a twelve month high of $5.23.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HLLY. Benchmark restated a “buy” rating and issued a $12.00 price target on shares of Holley in a report on Wednesday, September 4th. Telsey Advisory Group reiterated an “outperform” rating and set a $5.50 target price on shares of Holley in a report on Monday, September 9th. Canaccord Genuity Group lowered their target price on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Raymond James lowered their target price on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Truist Financial lowered their target price on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.