Holley (NYSE:HLLY) Given New $3.50 Price Target at Raymond James

Holley (NYSE:HLLY) had its price target raised by investment analysts at Raymond James from $3.00 to $3.50 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 44.33% from the stock’s previous close.

Separately, Telsey Advisory Group restated an “outperform” rating and set a $4.50 price target on shares of Holley in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.80.

Holley Stock Down 1.0 %

HLLY stock opened at $2.43 on Wednesday. The firm has a market cap of $290.51 million, a PE ratio of 18.65 and a beta of 1.44. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. The firm’s fifty day moving average is $2.88 and its 200 day moving average is $2.90. Holley has a one year low of $2.29 and a one year high of $4.58.

Holley (NYSE:HLLY) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.02 by $0.09. The company had revenue of $140.05 million for the quarter, compared to analyst estimates of $137.60 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.01 earnings per share. On average, research analysts forecast that Holley will post 0.12 EPS for the current year.

Insider Buying and Selling at Holley

In other Holley news, Director David S. Lobel sold 1,743,356 shares of the stock in a transaction 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 transaction, the director now directly owns 41,556,961 shares of the company’s stock, valued at $124,670,883. This trade represents a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Holley

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. purchased a new position in Holley during the fourth quarter valued at $30,000. Verition Fund Management LLC purchased a new position in shares of Holley in the third quarter worth about $35,000. JPMorgan Chase & Co. lifted its stake in shares of Holley by 102.1% in the third 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. Geode Capital Management LLC lifted its stake in shares of Holley by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock worth $3,357,000 after buying an additional 55,641 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Holley by 288.3% in the third quarter. Barclays PLC now owns 75,795 shares of the company’s stock worth $224,000 after buying an additional 56,277 shares in the last quarter. 39.70% of the stock is owned by hedge funds and other institutional investors.

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.