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

Holley Inc. (NYSE:HLLY) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $6.63.

HLLY has been the topic of several research reports. Benchmark reissued a “buy” rating and set a $12.00 price objective on shares of Holley in a report on Wednesday, September 4th. Telsey Advisory Group reduced their price target on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Monday, November 11th.

Holley Trading Up 0.3 %

HLLY opened at $3.02 on Thursday. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The stock’s fifty day moving average is $2.80 and its two-hundred day moving average is $3.11. The company has a market capitalization of $361.79 million, a P/E ratio of 23.23 and a beta of 1.47. Holley has a 52 week low of $2.29 and a 52 week high of $5.23.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $142.53 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s quarterly revenue was down 14.4% on a year-over-year basis. Analysts forecast that Holley will post 0.12 earnings per share for the current year.

Insider Transactions at Holley

In other Holley news, Director David S. Lobel sold 1,743,356 shares of Holley stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the completion of the sale, the director now owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. The trade was a 4.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Holley

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Holley by 6.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company’s stock valued at $30,117,000 after acquiring an additional 618,449 shares in the last quarter. Geode Capital Management LLC boosted its stake in Holley by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock worth $3,357,000 after purchasing an additional 55,641 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 buying an additional 334,940 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Holley by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company’s stock valued at $1,308,000 after buying an additional 43,053 shares during the last quarter. Finally, ClariVest Asset Management LLC lifted its stake in shares of Holley by 1.8% in the second 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. Hedge funds and other institutional investors own 39.70% of the company’s stock.

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.