Holley (HLLY) to Release Quarterly Earnings on Wednesday

Holley (NYSE:HLLY) is scheduled to announce 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 that are interested in registering for the company’s earnings conference call can do so using this link.

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

Holley Trading Up 0.9 %

Shares of HLLY stock opened at $4.12 on Tuesday. Holley has a 52-week low of $2.31 and a 52-week high of $8.06. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.12 and a current ratio of 3.17. The company has a 50-day simple moving average of $4.25 and a two-hundred day simple moving average of $4.43. The company has a market capitalization of $488.86 million, a price-to-earnings ratio of 24.21 and a beta of 1.53.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Graham Clempson bought 59,076 shares of the stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $4.18 per share, for a total transaction of $246,937.68. Following the purchase, the director now directly owns 63,851 shares of the company’s stock, valued at approximately $266,897.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.

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.