Holley Inc. (NYSE:HLLY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Holley Inc. (NYSE:HLLY) have earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $6.63.

A number of research firms recently issued reports on HLLY. Benchmark restated a “buy” rating and set a $12.00 price objective on shares of Holley in a report on Wednesday, September 4th. Telsey Advisory Group decreased their price target on shares of Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Monday, November 11th.

Holley Price Performance

Shares of NYSE HLLY opened at $2.75 on Friday. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $329.45 million, a PE ratio of 21.15 and a beta of 1.47. The stock’s 50 day moving average price is $2.79 and its 200-day moving average price is $3.20. Holley has a twelve month low of $2.29 and a twelve month high of $5.23.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Holley had a return on equity of 2.59% and a net margin of 2.55%. The business had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. During the same period in the prior year, the firm posted $0.03 EPS. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. On average, equities analysts anticipate that Holley will post 0.12 EPS for the current year.

Institutional Investors Weigh In On Holley

Several institutional investors have recently added to or reduced their stakes in HLLY. Allspring Global Investments Holdings LLC raised its position 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 valued at $34,335,000 after purchasing an additional 5,409,997 shares during the period. Dimensional Fund Advisors LP grew its stake in Holley by 52.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after buying an additional 334,940 shares in the last quarter. Skylands Capital LLC raised its holdings in Holley by 37.6% during the 2nd quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock valued at $4,023,000 after acquiring an additional 306,874 shares during the period. Renaissance Technologies LLC lifted its position in shares of Holley by 665.2% during the second quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock worth $471,000 after acquiring an additional 114,314 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Holley by 288.3% in the third quarter. Barclays PLC now owns 75,795 shares of the company’s stock worth $224,000 after acquiring an additional 56,277 shares during the period. 39.70% of the stock is owned by hedge funds and other institutional investors.

About Holley

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.