Holley (NYSE:HLLY) Given “Outperform” Rating at Telsey Advisory Group

Holley (NYSE:HLLY)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $6.50 target price on the stock. Telsey Advisory Group’s target price suggests a potential upside of 64.97% from the stock’s current price.

HLLY has been the subject of several other reports. Benchmark restated a “buy” rating and issued a $12.00 price objective on shares of Holley in a research note on Tuesday, June 18th. Canaccord Genuity Group restated a “buy” rating and set a $8.00 price objective on shares of Holley in a research note on Friday, June 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.47.

Holley Price Performance

Shares of NYSE HLLY opened at $3.94 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.04 and a current ratio of 2.85. Holley has a fifty-two week low of $3.16 and a fifty-two week high of $8.06. The company has a market cap of $470.08 million, a PE ratio of 24.63 and a beta of 1.47. The business has a 50-day simple moving average of $3.61 and a two-hundred day simple moving average of $4.11.

Insider Activity

In other Holley news, Chairman Matthew E. Rubel bought 14,493 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average cost of $3.39 per share, for a total transaction of $49,131.27. Following the transaction, the chairman now directly owns 169,979 shares of the company’s stock, valued at $576,228.81. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.92% of the company’s stock.

Institutional Trading of Holley

Institutional investors have recently modified their holdings of the stock. Skylands Capital LLC lifted its holdings in Holley by 37.6% in the 2nd quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock valued at $4,023,000 after purchasing an additional 306,874 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Holley by 129.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock worth $34,335,000 after buying an additional 5,409,997 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Holley during the first quarter worth about $43,000. Sei Investments Co. grew its stake in Holley by 1.3% during the 1st quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock valued at $1,801,000 after acquiring an additional 5,000 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Holley in the 1st quarter valued at about $937,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

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.