Holley Inc. (NYSE:HLLY) Expected to Post FY2022 Earnings of $0.30 Per Share

Holley Inc. (NYSE:HLLYGet Rating) – Equities researchers at William Blair cut their FY2022 earnings estimates for Holley in a report issued on Tuesday, November 15th. William Blair analyst R. Sundby now forecasts that the company will earn $0.30 per share for the year, down from their previous estimate of $0.45. The consensus estimate for Holley’s current full-year earnings is $0.38 per share. William Blair also issued estimates for Holley’s Q4 2022 earnings at $0.04 EPS and FY2023 earnings at $0.45 EPS.

Other equities research analysts have also issued research reports about the stock. Imperial Capital initiated coverage on shares of Holley in a report on Tuesday, August 9th. They issued an “outperform” rating and a $10.00 target price on the stock. JPMorgan Chase & Co. lowered shares of Holley from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $14.00 to $9.00 in a research note on Friday, July 29th. DA Davidson decreased their price objective on shares of Holley from $9.00 to $5.00 in a research note on Tuesday. Telsey Advisory Group decreased their price target on shares of Holley from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Raymond James decreased their price target on shares of Holley from $9.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.11.

Holley Price Performance

HLLY stock opened at $2.91 on Thursday. The company has a debt-to-equity ratio of 1.52, a current ratio of 3.37 and a quick ratio of 1.16. Holley has a 1 year low of $2.29 and a 1 year high of $14.68. The stock has a market capitalization of $346.64 million, a PE ratio of 4.77, a price-to-earnings-growth ratio of 0.37 and a beta of 0.68. The company’s 50-day moving average is $4.21 and its 200-day moving average is $7.45.

Hedge Funds Weigh In On Holley

A number of large investors have recently added to or reduced their stakes in HLLY. Victory Capital Management Inc. purchased a new position in shares of Holley in the first quarter valued at about $2,930,000. Swiss National Bank boosted its stake in shares of Holley by 5.4% during the 1st quarter. Swiss National Bank now owns 95,800 shares of the company’s stock valued at $1,333,000 after purchasing an additional 4,900 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Holley by 73.5% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 123,480 shares of the company’s stock valued at $1,718,000 after purchasing an additional 52,320 shares in the last quarter. Associated Banc Corp bought a new stake in shares of Holley during the 1st quarter valued at about $179,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Holley by 74.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 155,670 shares of the company’s stock valued at $2,165,000 after purchasing an additional 66,478 shares in the last quarter.

About Holley

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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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Earnings History and Estimates for Holley (NYSE:HLLY)

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