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

Shares of Holley Inc. (NYSE:HLLY) have earned an average rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.54.

Several research analysts recently weighed in on HLLY shares. Benchmark restated a “buy” rating and issued a $12.00 price objective on shares of Holley in a research report on Monday, August 5th. Canaccord Genuity Group decreased their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday. Raymond James decreased their price objective on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research report on Thursday. Truist Financial reduced their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Telsey Advisory Group reduced their price target on shares of Holley from $6.50 to $5.50 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th.

Insider Activity

In related news, Chairman Matthew E. Rubel acquired 14,493 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average price of $3.39 per share, with a total value of $49,131.27. Following the completion of the purchase, the chairman now owns 169,979 shares in the company, valued at approximately $576,228.81. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.92% of the company’s stock.

Institutional Trading of Holley

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new stake in Holley in the first quarter worth $43,000. Tower Research Capital LLC TRC lifted its stake in Holley by 410.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company’s stock worth $66,000 after acquiring an additional 10,867 shares during the period. SYSTM Wealth Solutions LLC purchased a new stake in Holley in the first quarter worth $90,000. SG Americas Securities LLC lifted its stake in Holley by 75.7% in the fourth quarter. SG Americas Securities LLC now owns 28,577 shares of the company’s stock worth $139,000 after acquiring an additional 12,309 shares during the period. Finally, Norden Group LLC lifted its stake in Holley by 28.8% in the first quarter. Norden Group LLC now owns 43,694 shares of the company’s stock worth $195,000 after acquiring an additional 9,781 shares during the period. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Trading Down 5.4 %

Shares of HLLY opened at $2.97 on Monday. The business’s 50-day moving average price is $3.57 and its 200-day moving average price is $4.05. Holley has a twelve month low of $2.94 and a twelve month high of $8.06. The stock has a market cap of $354.35 million, a PE ratio of 18.56 and a beta of 1.47. The company has a quick ratio of 1.04, a current ratio of 2.85 and a debt-to-equity ratio of 1.26.

Holley (NYSE:HLLY) last posted its quarterly earnings data 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 analysts’ expectations of $170.40 million. Holley had a net margin of 2.89% and a return on equity of 4.32%. Holley’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. On average, equities analysts forecast that Holley will post 0.27 EPS for the current fiscal year.

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.