Holley’s (HLLY) “Outperform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Holley (NYSE:HLLY) in a report published on Wednesday,Benzinga reports. Telsey Advisory Group currently has a $4.50 price target on the stock.

Holley Trading Down 3.4 %

HLLY stock opened at $2.87 on Wednesday. The firm’s fifty day simple moving average is $2.84 and its two-hundred day simple moving average is $3.09. The stock has a market capitalization of $343.82 million, a price-to-earnings ratio of 22.08 and a beta of 1.42. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. Holley has a twelve month low of $2.29 and a twelve month high of $5.23.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Holley had a return on equity of 2.59% and a net margin of 2.55%. The firm had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. During the same period last year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, analysts anticipate that Holley will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David S. Lobel sold 1,743,356 shares of Holley stock in a transaction that occurred on Monday, December 16th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HLLY. JPMorgan Chase & Co. grew its position in shares of Holley by 102.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock worth $424,000 after buying an additional 72,641 shares in the last quarter. Virtu Financial LLC bought a new position in Holley during the 3rd quarter worth about $54,000. Barclays PLC increased its position in Holley by 288.3% during the 3rd quarter. Barclays PLC now owns 75,795 shares of the company’s stock valued at $224,000 after purchasing an additional 56,277 shares during the period. Geode Capital Management LLC raised its holdings in shares of Holley by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock valued at $3,357,000 after purchasing an additional 55,641 shares in the last quarter. Finally, Zacks Investment Management lifted its position in shares of Holley by 69.5% in the 3rd quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock worth $58,000 after purchasing an additional 8,061 shares during the period. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

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.