Holley Inc. (NYSE:HLLY) Expected to Earn $0.03 per Share in Q3 2024

Holley Inc. (NYSE:HLLY – Free Report) – Research analysts at William Blair cut their Q3 2024 earnings per share estimates for Holley in a report issued on Wednesday, August 7th. William Blair analyst P. Blee now anticipates that the company will earn $0.03 per share for the quarter, down from their prior forecast of $0.05. The consensus estimate for Holley’s current full-year earnings is $0.27 per share. William Blair also issued estimates for Holley Q4 2024 earnings at $0.05, FY2024 at $0.19, Q1 2025 at $0.06, Q2 2025 at $0.12, Q3 2025 at $0.02 and for $0.06 EPS.

Other analysts have recently issued reports on the stock. Telsey Advisory Group decreased their price target on shares of Holley from $6.50 to $5.50 and set an “outperform” rating on the stock in a report on Wednesday. Canaccord Genuity Group dropped their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday. Raymond James decreased their price target on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research report on Thursday. Truist Financial cut their price target on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and issued a $12.00 price target on shares of Holley in a research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00, according to MarketBeat.com.

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Holley Price Performance

Shares of NYSE HLLY opened at $2.98 on Friday. The company has a 50-day simple moving average of $3.57 and a 200-day simple moving average of $4.06. Holley has a twelve month low of $2.94 and a twelve month high of $8.06. The company has a market cap of $354.95 million, a price-to-earnings ratio of 18.59 and a beta of 1.47. The company has a current ratio of 2.85, a quick ratio of 1.04, and a debt-to-equity ratio of 1.26.

Institutional investors are weighing in on Holley

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Holley by 75.7% in the fourth quarter. SG Americas Securities LLC now owns 28,577 shares of the company’s stock valued at $139,000 after acquiring an additional 12,309 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Holley by 3.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,133,749 shares of the company’s stock valued at $20,131,000 after buying an additional 121,251 shares during the last quarter. Skylands Capital LLC boosted its stake in Holley by 7.2% in the fourth quarter. Skylands Capital LLC now owns 589,400 shares of the company’s stock valued at $2,870,000 after buying an additional 39,600 shares during the last quarter. Trexquant Investment LP boosted its holdings in Holley by 7.2% in the fourth quarter. Trexquant Investment LP now owns 106,027 shares of the company’s stock worth $516,000 after buying an additional 7,151 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Holley by 410.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company’s stock worth $66,000 after purchasing an additional 10,867 shares during the last quarter. 39.70% of shares are currently owned by institutional investors and hedge funds.

Insider trading at Holley

In other Holley news, Chairman Matthew E. Rubel purchased 14,493 shares of the stock in a transaction dated Wednesday, June 12th. The shares were bought at an average cost of $3.39 per share, with a total value of $49,131.27. Following the completion of the purchase, the chairman now owns 169,979 shares of the company’s stock, valued at $576,228.81. The acquisition was disclosed in a filing with the SEC, which is available via this link. Company insiders own 0.92% of the company’s shares.

About Holley

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Holley Inc operates as a designer, manufacturer and distributor of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe and China. Its products cover various automotive platforms and are sold through multiple channels. The company’s performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust manifolds, mufflers, distributors, ignition components, engine tuners, plumbing products automotive performance sanitary; and exhaust products, as well as gearboxes, converters, transmission kits, transmissions, tuners and automotive software.

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