Holley Inc. (NYSE:HLLY) Expected to Announce Quarterly Sales of $212.90 Million

Analysts expect Holley Inc. (NYSE:HLLYGet Rating) to announce $212.90 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Holley’s earnings. The lowest sales estimate is $208.00 million and the highest is $216.20 million. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Holley will report full year sales of $789.24 million for the current financial year, with estimates ranging from $785.00 million to $801.30 million. For the next financial year, analysts expect that the business will post sales of $839.66 million, with estimates ranging from $820.00 million to $865.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Holley.

Holley (NYSE:HLLYGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $200.06 million during the quarter, compared to the consensus estimate of $192.70 million. The company’s revenue for the quarter was up 24.8% on a year-over-year basis.

Several research analysts have weighed in on HLLY shares. Zacks Investment Research lowered Holley from a “buy” rating to a “hold” rating in a research report on Tuesday, March 8th. Telsey Advisory Group raised their price target on Holley from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, March 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Holley currently has a consensus rating of “Buy” and an average target price of $14.88.

Shares of Holley stock opened at $10.81 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.27 and a current ratio of 3.25. The business has a fifty day simple moving average of $11.25 and a 200-day simple moving average of $12.19. Holley has a fifty-two week low of $8.23 and a fifty-two week high of $14.68.

In other Holley news, 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 value of $26,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David S. Lobel sold 8,000,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 54,673,884 shares in the company, valued at approximately $624,922,494.12. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently made changes to their positions in HLLY. Bank of America Corp DE lifted its holdings in Holley by 20.3% during the 1st quarter. Bank of America Corp DE now owns 568,122 shares of the company’s stock valued at $7,903,000 after buying an additional 96,057 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in shares of Holley by 0.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 313,871 shares of the company’s stock valued at $4,366,000 after purchasing an additional 1,300 shares during the period. Beacon Pointe Advisors LLC acquired a new position in shares of Holley in the 1st quarter valued at $175,000. Royal Bank of Canada lifted its stake in shares of Holley by 35.2% in the 1st quarter. Royal Bank of Canada now owns 21,062 shares of the company’s stock valued at $293,000 after purchasing an additional 5,486 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Holley by 70.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,377 shares of the company’s stock worth $1,216,000 after acquiring an additional 35,970 shares in the last quarter. 81.35% of the stock is owned by hedge funds and other institutional investors.

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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