Holley (NYSE:HLLY) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Holley (NYSE:HLLY) announced its quarterly earnings data on Tuesday. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09, Zacks reports. Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm had revenue of $140.05 million during the quarter, compared to analyst estimates of $137.60 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Holley’s quarterly revenue was down 10.1% on a year-over-year basis.

Holley Trading Down 1.6 %

Shares of NYSE HLLY opened at $2.39 on Tuesday. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $286.55 million, a PE ratio of 18.40 and a beta of 1.44. Holley has a twelve month low of $2.29 and a twelve month high of $4.58. The stock has a fifty day simple moving average of $2.90 and a 200-day simple moving average of $2.91.

Insider Buying and Selling

In related news, Director David S. Lobel sold 1,743,356 shares of Holley stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the transaction, the director now owns 41,556,961 shares in the company, valued at approximately $124,670,883. The trade was a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 price objective on shares of Holley in a research report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $6.95.

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.