Holley Inc. (NYSE:HLLY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Holley Inc. (NYSE:HLLY) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $6.54.

HLLY has been the topic of a number of analyst reports. Truist Financial dropped their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Telsey Advisory Group cut their price objective on shares of Holley from $6.50 to $5.50 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Canaccord Genuity Group lowered their target price on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $12.00 price target on shares of Holley in a research note on Wednesday. Finally, Raymond James lowered their price target on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research report on Thursday, August 8th.

Holley Stock Down 1.4 %

NYSE:HLLY opened at $3.16 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.80 and a quick ratio of 1.19. The company’s fifty day moving average price is $3.43 and its 200-day moving average price is $3.82. Holley has a 1-year low of $2.94 and a 1-year high of $5.71. The firm has a market capitalization of $376.43 million, a P/E ratio of 19.72 and a beta of 1.47.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $169.50 million for the quarter, compared to the consensus estimate of $170.40 million. Holley had a return on equity of 3.51% and a net margin of 3.56%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. As a group, equities research analysts anticipate that Holley will post 0.19 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HLLY. Allspring Global Investments Holdings LLC grew its holdings in Holley by 129.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock valued at $34,335,000 after buying an additional 5,409,997 shares in the last quarter. Skylands Capital LLC increased its stake in Holley by 37.6% during the second quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock worth $4,023,000 after purchasing an additional 306,874 shares during the period. Dimensional Fund Advisors LP increased its stake in Holley by 52.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock worth $3,491,000 after buying an additional 334,940 shares during the period. Norden Group LLC raised its stake in shares of Holley by 1,717.0% in the first quarter. Norden Group LLC now owns 616,196 shares of the company’s stock valued at $2,748,000 after acquiring an additional 582,283 shares in the last quarter. Finally, Sei Investments Co. raised its position in Holley by 1.3% in the 1st quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock valued at $1,801,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors 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.