Holley (NYSE:HLLY) Announces Earnings Results, Beats Estimates By $0.04 EPS

Holley (NYSE:HLLYGet Rating) announced its earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04, MarketWatch Earnings reports. The company had revenue of $200.06 million for the quarter, compared to the consensus estimate of $192.70 million. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. Holley updated its FY 2022 guidance to EPS.

HLLY opened at $9.74 on Friday. Holley has a fifty-two week low of $8.23 and a fifty-two week high of $14.68. The company has a current ratio of 3.18, a quick ratio of 1.16 and a debt-to-equity ratio of 2.09. The firm’s fifty day moving average price is $12.50 and its two-hundred day moving average price is $12.43.

In other Holley news, Director David S. Lobel sold 8,000,000 shares of Holley stock in a transaction on Monday, April 25th. The shares were sold at an average price of $11.43, for a total transaction of $91,440,000.00. Following the sale, the director now owns 54,673,884 shares in the company, valued at $624,922,494.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David S. Lobel sold 2,000,000 shares of the business’s stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $13.00, for a total transaction of $26,000,000.00. The disclosure for this sale can be found here.

Large investors have recently modified their holdings of the company. Morgan Stanley acquired a new stake in shares of Holley in the 3rd quarter valued at $91,000. JPMorgan Chase & Co. acquired a new position in Holley during the 4th quarter worth about $126,000. Legal & General Group Plc acquired a new position in Holley during the 4th quarter worth about $134,000. Citigroup Inc. lifted its position in Holley by 1,196.2% during the 1st quarter. Citigroup Inc. now owns 9,877 shares of the company’s stock worth $137,000 after buying an additional 9,115 shares in the last quarter. Finally, Royal Bank of Canada acquired a new position in Holley during the 3rd quarter worth about $182,000. Institutional investors own 81.35% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Holley from a “buy” rating to a “hold” rating in a research report on Tuesday, March 8th. Telsey Advisory Group boosted their target price on shares of Holley from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, March 4th. Finally, Raymond James boosted their target price on shares of Holley from $14.00 to $14.50 and gave the stock an “outperform” rating in a research report on Friday, January 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Holley presently has an average rating of “Buy” and a consensus price target of $14.88.

Holley Company Profile (Get Rating)

Holley Inc designs, manufactures, and markets automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. The company's 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.

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