Analysts Set Holley Inc. (NYSE:HLLY) Target Price at $6.54

Shares of Holley Inc. (NYSE:HLLY) have received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.54.

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

Holley Trading Down 2.5 %

Shares of NYSE HLLY opened at $2.73 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.80 and a debt-to-equity ratio of 1.18. The stock’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $3.50. Holley has a 52-week low of $2.69 and a 52-week high of $5.23. The stock has a market capitalization of $325.72 million, a P/E ratio of 17.06 and a beta of 1.43.

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

Institutional Trading of Holley

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in Holley during the second quarter valued at approximately $42,000. Lazard Asset Management LLC bought a new position in shares of Holley in the first quarter valued at $43,000. SG Americas Securities LLC acquired a new stake in shares of Holley during the 3rd quarter valued at $52,000. Algert Global LLC boosted its stake in shares of Holley by 31.1% during the 2nd quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after acquiring an additional 4,924 shares in the last quarter. Finally, Norden Group LLC grew its holdings in shares of Holley by 28.8% in the 1st quarter. Norden Group LLC now owns 43,694 shares of the company’s stock worth $195,000 after acquiring an additional 9,781 shares during the last quarter. 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.