Telsey Advisory Group Reiterates “Outperform” Rating for Holley (NYSE:HLLY)

Telsey Advisory Group restated their outperform rating on shares of Holley (NYSE:HLLY) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $4.50 target price on the stock.

Holley Price Performance

Shares of NYSE HLLY opened at $2.45 on Wednesday. The firm has a market cap of $292.90 million, a PE ratio of 18.81 and a beta of 1.44. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. Holley has a 1-year low of $2.29 and a 1-year high of $4.58. The company has a fifty day moving average price of $2.89 and a 200 day moving average price of $2.90.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. Holley had a net margin of 2.55% and a return on equity of 2.59%. The company had revenue of $140.05 million during the quarter, compared to the consensus estimate of $137.60 million. During the same period in the prior year, the business posted $0.01 EPS. The company’s quarterly revenue was down 10.1% on a year-over-year basis. Research analysts predict that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Holley

In other news, Director David S. Lobel sold 1,743,356 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the completion of the transaction, the director now directly owns 41,556,961 shares in the company, valued at $124,670,883. This represents a 4.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Holley

A number of institutional investors and hedge funds have recently modified their holdings of HLLY. US Bancorp DE raised its holdings in shares of Holley by 15.9% in the 3rd quarter. US Bancorp DE now owns 100,979 shares of the company’s stock valued at $298,000 after purchasing an additional 13,828 shares during the period. Empowered Funds LLC raised its holdings in shares of Holley by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 248,973 shares of the company’s stock valued at $734,000 after purchasing an additional 12,596 shares during the period. Intech Investment Management LLC bought a new stake in shares of Holley in the 3rd quarter valued at about $41,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Holley by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company’s stock valued at $1,308,000 after purchasing an additional 43,053 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of Holley in the 3rd quarter valued at about $35,000. 39.70% of the stock is owned by institutional investors.

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.