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

Holley Inc. (NYSE:HLLY) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.50.

A number of analysts have recently issued reports on the stock. DA Davidson increased their price target on shares of Holley from $3.00 to $4.50 and gave the stock a “neutral” rating in a research report on Monday, November 10th. Telsey Advisory Group lifted their target price on shares of Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Holley in a research note on Thursday, January 22nd. Benchmark lifted their price objective on Holley from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating on shares of Holley in a research report on Tuesday, December 23rd.

Holley Price Performance

HLLY opened at $3.85 on Friday. The firm has a market capitalization of $463.96 million, a P/E ratio of -17.50 and a beta of 1.31. The stock has a fifty day moving average of $4.15 and a 200-day moving average of $3.50. The company has a quick ratio of 1.06, a current ratio of 2.78 and a debt-to-equity ratio of 1.20. Holley has a 12-month low of $1.60 and a 12-month high of $4.43.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Holley had a negative net margin of 4.16% and a positive return on equity of 6.75%. The business had revenue of $138.37 million for the quarter, compared to analyst estimates of $132.36 million. Equities analysts forecast that Holley will post 0.12 EPS for the current fiscal year.

Institutional Trading of Holley

A number of institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in Holley in the fourth quarter worth approximately $62,000. State of Alaska Department of Revenue bought a new stake in Holley in the fourth quarter worth $35,000. SG Americas Securities LLC acquired a new position in Holley during the fourth quarter worth $196,000. JPMorgan Chase & Co. raised its holdings in Holley by 143.9% during the third quarter. JPMorgan Chase & Co. now owns 189,054 shares of the company’s stock valued at $594,000 after buying an additional 111,542 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new stake in shares of Holley in the third quarter worth about $18,762,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

About Holley

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.