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

Holley (NYSE:HLLY)‘s stock had its “outperform” rating restated by investment analysts at Telsey Advisory Group in a report issued on Tuesday,Benzinga reports. They presently have a $5.00 target price on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 18.06% from the stock’s current price.

HLLY has been the topic of several other research reports. Benchmark increased their price objective on Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Holley in a research report on Thursday, January 22nd. Canaccord Genuity Group upped their price target on shares of Holley from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, DA Davidson increased their price objective on shares of Holley from $3.00 to $4.50 and gave the company a “neutral” rating in a research note on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.67.

Holley Trading Up 0.8%

Shares of HLLY traded up $0.04 during trading hours on Tuesday, reaching $4.24. 21,852 shares of the company traded hands, compared to its average volume of 732,965. The stock’s fifty day moving average price is $4.14 and its 200 day moving average price is $3.73. The company has a current ratio of 2.78, a quick ratio of 1.06 and a debt-to-equity ratio of 1.20. The firm has a market cap of $510.36 million, a price-to-earnings ratio of -19.20 and a beta of 1.33. Holley has a 12-month low of $1.60 and a 12-month high of $4.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG raised its holdings in shares of Holley by 7.2% during the fourth quarter. Deutsche Bank AG now owns 48,294 shares of the company’s stock valued at $199,000 after acquiring an additional 3,251 shares during the last quarter. ProShare Advisors LLC raised its stake in Holley by 37.1% in the 4th quarter. ProShare Advisors LLC now owns 13,961 shares of the company’s stock valued at $58,000 after purchasing an additional 3,777 shares during the last quarter. State Street Corp boosted its stake in Holley by 0.3% during the 4th quarter. State Street Corp now owns 1,141,534 shares of the company’s stock worth $4,715,000 after purchasing an additional 3,788 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Holley by 10.7% in the fourth quarter. Verition Fund Management LLC now owns 47,831 shares of the company’s stock valued at $198,000 after buying an additional 4,638 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Holley by 16.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock worth $65,000 after buying an additional 4,661 shares in the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

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.