Holley (HLLY) to Release Quarterly Earnings on Wednesday

Holley (NYSE:HLLY) will be announcing its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Holley has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Holley had a net margin of 2.91% and a return on equity of 5.77%. The company had revenue of $155.70 million for the quarter, compared to analyst estimates of $153.26 million. During the same quarter in the prior year, the business posted ($0.19) EPS. Holley’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect Holley to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Holley Price Performance

NYSE HLLY opened at $4.12 on Tuesday. Holley has a fifty-two week low of $2.31 and a fifty-two week high of $8.06. The stock’s 50-day moving average is $4.25 and its two-hundred day moving average is $4.43. The firm has a market cap of $488.86 million, a P/E ratio of 24.21 and a beta of 1.53. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.17 and a quick ratio of 1.12.

Insider Buying and Selling at Holley

In related news, Director Graham Clempson acquired 59,076 shares of the stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $4.18 per share, for a total transaction of $246,937.68. Following the purchase, the director now owns 63,851 shares in the company, valued at approximately $266,897.18. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

HLLY has been the subject of a number of analyst reports. Truist Financial reduced their price target on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Benchmark reissued a “buy” rating and set a $12.00 price objective on shares of Holley in a research report on Thursday, March 28th. Telsey Advisory Group reissued an “outperform” rating and set a $9.00 price objective on shares of Holley in a research report on Thursday, February 29th. JPMorgan Chase & Co. cut Holley from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $6.50 to $5.00 in a research report on Tuesday, February 20th. Finally, Canaccord Genuity Group cut their price objective on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Holley currently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

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.