Brokerages Set Holley Inc. (NYSE:HLLY) PT at $6.54

Shares of Holley Inc. (NYSE:HLLY) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $6.54.

A number of brokerages recently weighed in on HLLY. Truist Financial decreased their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Holley in a research report on Monday, August 5th. Telsey Advisory Group decreased their price objective on shares of Holley from $6.50 to $5.50 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Raymond James decreased their price objective on shares of Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group decreased their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Insider Transactions at Holley

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

Institutional Investors Weigh In On Holley

Institutional investors and hedge funds have recently bought and sold shares of the business. Norden Group LLC raised its stake in Holley by 28.8% during 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. Allspring Global Investments Holdings LLC increased its stake in shares of Holley by 129.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock valued at $34,335,000 after purchasing an additional 5,409,997 shares during the period. Trexquant Investment LP increased its stake in shares of Holley by 7.2% in the fourth quarter. Trexquant Investment LP now owns 106,027 shares of the company’s stock valued at $516,000 after purchasing an additional 7,151 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Holley in the first quarter valued at approximately $43,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Holley in the first quarter valued at approximately $937,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Trading Up 0.6 %

HLLY stock opened at $3.23 on Friday. The company has a market cap of $385.37 million, a price-to-earnings ratio of 20.19 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 2.80 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $3.46 and a 200-day simple moving average of $3.86. Holley has a 52 week low of $2.94 and a 52 week high of $5.88.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Holley had a net margin of 3.56% and a return on equity of 3.51%. The firm had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $170.40 million. During the same period in the prior year, the company earned $0.14 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts expect that Holley will post 0.19 EPS for the current 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.