Holley (NYSE:HLLY) Stock Gets Price Target Trim from Telsey Advisory Group

Holley (NYSE:HLLY) had its price objective decreased by Telsey Advisory Group from $5.00 to $4.00 in a research note published on Friday,Benzinga reports. Telsey Advisory Group currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded Holley from a “buy” rating to a “hold” rating in a research report on Saturday. DA Davidson set a $3.00 price target on Holley in a report on Friday. Zacks Research cut Holley from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Canaccord Genuity Group reduced their price objective on Holley from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Holley in a report on Tuesday, November 3rd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.00.

Holley Trading Down 0.7%

Shares of HLLY stock opened at $2.08 on Friday. The firm has a market capitalization of $252.77 million, a P/E ratio of 13.90 and a beta of 1.44. Holley has a 1 year low of $2.05 and a 1 year high of $4.48. The firm’s fifty day simple moving average is $2.59 and its 200 day simple moving average is $2.97. The company has a current ratio of 3.04, a quick ratio of 1.23 and a debt-to-equity ratio of 1.07.

Holley (NYSE:HLLY) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $141.56 million during the quarter, compared to the consensus estimate of $145.80 million. Holley had a net margin of 3.07% and a return on equity of 9.28%. As a group, sell-side analysts predict that Holley will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Holley

A number of hedge funds have recently made changes to their positions in HLLY. BlackRock Inc. bought a new position in shares of Holley during the 2nd quarter worth about $14,361,000. Blue Owl Capital Holdings LP bought a new stake in Holley in the second quarter valued at about $11,161,000. Bamco Inc. NY acquired a new position in Holley in the second quarter worth about $8,288,000. Bank of America Corp DE acquired a new position in Holley in the second quarter worth about $4,638,000. Finally, Wasatch Advisors LP lifted its stake in Holley by 35.1% during the second quarter. Wasatch Advisors LP now owns 4,887,038 shares of the company’s stock worth $12,462,000 after purchasing an additional 1,269,256 shares during the period. Institutional investors and hedge funds own 39.70% of the company’s stock.

About Holley

Holley Inc is an automotive aftermarket company that designs, manufactures and distributes performance products for cars, trucks, powersports vehicles and other enthusiast applications. Its offerings include fuel systems, engine and ignition components, exhaust products, suspension and driveline components, electronic controls, vehicle accessories and safety equipment.

The company serves do-it-yourself consumers, professional installers, racing teams, automotive enthusiasts and original equipment manufacturers through a portfolio of established aftermarket brands.