Holley Analysts Raise Their Forecasts After Better-Than-Expected Q2 Results

Holley Inc. HLLY reported strong earnings for the second quarter and raised its FY23 guidance.

Holley posted adjusted earnings of 14 cents per share, beating market estimates of 6 cents per share. The company’s sales came in at $175.30 million, versus expectations of $172.61 million.

Holley raised its FY23 revenue outlook from $625 million-$675 million to $635 million-$675 million.

Holley shares jumped 19.7% to close at $7.43 on Thursday.

These analysts made changes to their price targets on Holley following earnings announcement.

  • Telsey Advisory Group boosted the price target on Holley from $7.5 to $9. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
  • Raymond James increased the price target on Holley from $6.25 to $8.25. Raymond James analyst Joseph Altobello maintained an Outperform rating.
  • Canaccord Genuity raised Holley price target from $6 to $10. Canaccord Genuity analyst Brian McNamara maintained a Buy rating.

 

Read More: Flowers Foods, Spectrum Brands And 3 Stocks To Watch Heading Into Friday

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidancePrice TargetSmall CapPre-Market OutlookMarketsAnalyst RatingsTrading IdeasPT Changes
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!