Holley (NYSE:HLLY) Given “Outperform” Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Holley (NYSE:HLLY) in a report published on Monday morning, Benzinga reports. They currently have a $5.50 target price on the stock.

A number of other research firms also recently commented on HLLY. Truist Financial decreased their target price on Holley from $8.00 to $7.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group decreased their target price on Holley from $8.00 to $7.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Benchmark reiterated a buy rating and set a $12.00 target price on shares of Holley in a research report on Wednesday, September 4th. Finally, Raymond James decreased their target price on Holley from $5.25 to $4.25 and set an outperform rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Holley presently has a consensus rating of Moderate Buy and a consensus target price of $6.54.

Holley Stock Up 1.8 %

Holley stock opened at $3.15 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.80 and a quick ratio of 1.19. Holley has a 1-year low of $2.94 and a 1-year high of $5.67. The company has a market cap of $376.71 million, a PE ratio of 19.66 and a beta of 1.44. The stock’s 50 day moving average price is $3.41 and its 200 day moving average price is $3.79.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share 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 return on equity of 3.51% and a net margin of 3.56%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. On average, sell-side analysts predict that Holley will post 0.19 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Holley

Several institutional investors have recently added to or reduced their stakes in HLLY. Allspring Global Investments Holdings LLC increased its stake in 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 last quarter. Norden Group LLC increased its stake in Holley by 1,717.0% during the first quarter. Norden Group LLC now owns 616,196 shares of the company’s stock worth $2,748,000 after acquiring an additional 582,283 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Holley by 52.3% during the second quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock worth $3,491,000 after acquiring an additional 334,940 shares during the last quarter. Skylands Capital LLC increased its stake in Holley by 37.6% during the second quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock worth $4,023,000 after acquiring an additional 306,874 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Holley during the first quarter worth about $937,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Company Profile

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.