Brokerages Set Holley Inc. (NYSE:HLLY) Price Target at $6.39

Shares of Holley Inc. (NYSE:HLLY) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.63.

Several analysts have issued reports on the company. Telsey Advisory Group dropped their target price on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Monday, November 11th. Canaccord Genuity Group dropped their price objective on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Truist Financial reduced their target price on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Holley in a research note on Wednesday, September 4th. Finally, Raymond James dropped their target price on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a report on Thursday, August 8th.

Holley Stock Performance

NYSE:HLLY opened at $2.76 on Wednesday. Holley has a fifty-two week low of $2.29 and a fifty-two week high of $5.23. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.19 and a current ratio of 2.93. The company has a fifty day moving average of $2.89 and a two-hundred day moving average of $3.33. The stock has a market capitalization of $330.58 million, a PE ratio of 21.23 and a beta of 1.45.

Holley (NYSE:HLLY) last announced 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 net margin of 2.55% and a return on equity of 2.59%. The firm had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. During the same quarter in the previous year, the business posted $0.03 EPS. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. As a group, research analysts forecast that Holley will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Barclays PLC increased its position in Holley by 288.3% during 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. Zacks Investment Management raised its holdings 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. Verition Fund Management LLC purchased a new stake in shares of Holley during the 3rd quarter worth about $35,000. Charles Schwab Investment Management Inc. increased its position in Holley by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company’s stock worth $1,308,000 after purchasing an additional 43,053 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Holley in the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

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.