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

Holley (NYSE:HLLY) announced 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 negative net margin of 5.12% and a positive return on equity of 5.81%. The company had revenue of $138.37 million during the quarter, compared to analyst estimates of $132.36 million. Holley updated its FY 2025 guidance to EPS.

Holley Price Performance

Shares of Holley stock traded up $0.96 during midday trading on Friday, reaching $3.69. The company had a trading volume of 20,795,978 shares, compared to its average volume of 475,284. The company has a current ratio of 2.93, a quick ratio of 1.18 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $3.17 and a 200 day simple moving average of $2.67. Holley has a 1-year low of $1.60 and a 1-year high of $4.09. The company has a market capitalization of $444.04 million, a price-to-earnings ratio of -16.75 and a beta of 1.36.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HLLY. Raymond James Financial lifted their price objective on Holley from $2.25 to $3.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Canaccord Genuity Group lifted their price target on shares of Holley from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Holley from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Telsey Advisory Group boosted their target price on Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.20.

Insider Buying and Selling

In other news, Director David S. Lobel sold 14,000,000 shares of Holley stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $2.63, for a total value of $36,820,000.00. Following the completion of the sale, the director directly owned 26,754,834 shares of the company’s stock, valued at approximately $70,365,213.42. This trade represents a 34.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Holley

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in Holley by 143.9% in the third quarter. JPMorgan Chase & Co. now owns 189,054 shares of the company’s stock valued at $594,000 after buying an additional 111,542 shares during the period. Vanguard Group Inc. raised its position in shares of Holley by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,677,058 shares of the company’s stock valued at $11,546,000 after acquiring an additional 110,170 shares during the period. Geode Capital Management LLC boosted its stake in Holley by 9.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,320,321 shares of the company’s stock worth $2,641,000 after acquiring an additional 108,964 shares during the last quarter. Bank of America Corp DE boosted its stake in Holley by 2.4% during the 2nd quarter. Bank of America Corp DE now owns 1,498,337 shares of the company’s stock worth $2,997,000 after acquiring an additional 34,947 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Holley by 51.1% during the second quarter. Rhumbline Advisers now owns 103,287 shares of the company’s stock valued at $207,000 after purchasing an additional 34,914 shares during the period. Institutional investors own 39.70% of the company’s stock.

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.