Holley (NYSE:HLLY) Stock Rating Reaffirmed by Benchmark

Holley (NYSE:HLLY)‘s stock had its “buy” rating reiterated by Benchmark in a report released on Wednesday, Benzinga reports. They currently have a $12.00 price objective on the stock. Benchmark’s price objective suggests a potential upside of 280.35% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Truist Financial cut their price objective on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Telsey Advisory Group reduced their price objective on Holley from $6.50 to $5.50 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Raymond James lowered their target price on shares of Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group 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, August 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.54.

Holley Stock Performance

Shares of HLLY opened at $3.16 on Wednesday. The firm has a market cap of $376.43 million, a price-to-earnings ratio of 19.72 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’s 50 day moving average is $3.43 and its two-hundred day moving average is $3.82. Holley has a 52-week low of $2.94 and a 52-week high of $5.71.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $169.50 million for the quarter, compared to the consensus estimate of $170.40 million. Holley had a net margin of 3.56% and a return on equity of 3.51%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 EPS. Analysts forecast that Holley will post 0.19 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Matthew E. Rubel bought 14,493 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average price of $3.39 per share, for a total transaction of $49,131.27. Following the transaction, the chairman now owns 169,979 shares in the company, valued at $576,228.81. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norden Group LLC increased its stake in shares of Holley by 28.8% during the first quarter. Norden Group LLC now owns 43,694 shares of the company’s stock valued at $195,000 after acquiring an additional 9,781 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Holley by 129.4% during the 2nd 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 raised its stake in shares of Holley by 7.2% in the 4th quarter. Trexquant Investment LP now owns 106,027 shares of the company’s stock worth $516,000 after buying an additional 7,151 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Holley in the first quarter valued at $43,000. Finally, GSA Capital Partners LLP bought a new position in Holley during the first quarter valued at about $937,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

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.