Holley Inc. (NYSE:HLLY) Receives $7.75 Average PT from Brokerages

Holley Inc. (NYSE:HLLY) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $7.75.

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group cut their price target on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Holley in a research report on Thursday, March 28th. Truist Financial reduced their target price on Holley from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Telsey Advisory Group reissued an “outperform” rating and set a $9.00 price target on shares of Holley in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. downgraded shares of Holley from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $6.50 to $5.00 in a research note on Tuesday, February 20th.

Holley Stock Down 0.2 %

Holley stock opened at $4.01 on Friday. The company’s 50-day moving average price is $4.28 and its two-hundred day moving average price is $4.44. The company has a quick ratio of 1.12, a current ratio of 3.17 and a debt-to-equity ratio of 1.31. The stock has a market cap of $476.39 million, a P/E ratio of 23.59 and a beta of 1.52. Holley has a twelve month low of $2.08 and a twelve month high of $8.06.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $153.26 million. Holley had a return on equity of 5.77% and a net margin of 2.91%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.19) EPS. As a group, analysts expect that Holley will post 0.33 EPS for the current year.

Insider Buying and Selling

In other news, Director Graham Clempson bought 59,076 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $4.18 per share, for a total transaction of $246,937.68. Following the completion of the acquisition, the director now directly owns 63,851 shares in the company, valued at $266,897.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Holley

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Holley during the third quarter valued at about $81,000. Denali Advisors LLC acquired a new position in shares of Holley during the third quarter worth approximately $290,000. Deltec Asset Management LLC bought a new position in shares of Holley in the 3rd quarter worth $574,000. Bank of New York Mellon Corp grew its position in Holley by 2.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 286,771 shares of the company’s stock valued at $1,431,000 after purchasing an additional 6,558 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Holley during the 3rd quarter valued at $61,000. 39.70% of the stock is owned by institutional investors and hedge funds.

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.