Holley (NYSE:HLLY) Posts Earnings Results, Misses Estimates By $0.01 EPS

Holley (NYSE:HLLY) released its quarterly earnings results on Friday. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01), Zacks reports. Holley had a positive return on equity of 5.81% and a negative net margin of 5.12%.The company had revenue of $138.37 million during the quarter, compared to analysts’ expectations of $132.36 million. Holley updated its FY 2025 guidance to EPS.

Holley Stock Up 35.0%

Shares of NYSE:HLLY traded up $0.96 during trading hours on Friday, hitting $3.69. The company’s stock had a trading volume of 20,795,978 shares, compared to its average volume of 475,284. The firm’s fifty day moving average price is $3.17 and its 200 day moving average price is $2.66. Holley has a 52 week low of $1.60 and a 52 week high of $4.09. The company has a market capitalization of $444.04 million, a price-to-earnings ratio of 14.48 and a beta of 1.36. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.93 and a quick ratio of 1.18.

Insiders Place Their Bets

In other Holley news, Director David S. Lobel sold 2,100,000 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $2.63, for a total transaction of $5,523,000.00. Following the sale, the director owned 24,654,834 shares of the company’s stock, valued at approximately $64,842,213.42. This trade represents a 7.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC purchased a new stake in shares of Holley during the second quarter worth about $25,000. Captrust Financial Advisors acquired a new stake in Holley in the 2nd quarter worth approximately $44,000. Brevan Howard Capital Management LP grew its position in Holley by 103.4% during the 2nd quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company’s stock worth $45,000 after purchasing an additional 11,494 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Holley by 16.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock worth $65,000 after purchasing an additional 4,661 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Holley by 195.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 77,512 shares of the company’s stock valued at $155,000 after purchasing an additional 51,247 shares in the last quarter. 39.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HLLY. Raymond James Financial lifted their target price on Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Benchmark upgraded shares of Holley from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Friday, August 8th. Canaccord Genuity Group raised their target price on shares of Holley from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Telsey Advisory Group increased their price objective on shares of Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.20.

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.