Holley Inc. (NYSE:HLLY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Holley Inc. (NYSE:HLLY) have received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $6.54.

HLLY has been the subject of several research analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $5.50 price target on shares of Holley in a research note on Monday, September 9th. Raymond James decreased their price target 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. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Holley in a research report on Wednesday, September 4th. Canaccord Genuity Group dropped their target price 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. Finally, Truist Financial cut their price objective on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Institutional Trading of Holley

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norden Group LLC lifted its position in shares of Holley by 28.8% during the 1st quarter. Norden Group LLC now owns 43,694 shares of the company’s stock valued at $195,000 after buying an additional 9,781 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Holley by 129.4% in 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 last quarter. Trexquant Investment LP grew 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 buying an additional 7,151 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Holley during the first quarter worth about $43,000. Finally, ClariVest Asset Management LLC lifted its holdings in Holley by 1.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after buying an additional 5,431 shares in the last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Trading Down 1.6 %

Shares of HLLY opened at $3.05 on Tuesday. The company’s fifty day moving average is $3.35 and its 200 day moving average is $3.71. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.19 and a current ratio of 2.80. The stock has a market capitalization of $363.90 million, a PE ratio of 19.06 and a beta of 1.44. Holley has a fifty-two week low of $2.94 and a fifty-two week high of $5.23.

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