Holley Inc. (NYSE:HLLY) Receives $3.75 Average PT from Analysts

Shares of Holley Inc. (NYSE:HLLY) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $3.75.

A number of research analysts have recently weighed in on the company. Raymond James Financial increased their price objective on Holley from $2.25 to $3.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Holley in a report on Wednesday, October 8th. Benchmark raised Holley from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Friday, August 8th. Canaccord Genuity Group increased their price objective on Holley from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $2.75 price objective on shares of Holley in a report on Thursday, July 31st.

Holley Trading Down 3.5%

Holley stock opened at $2.87 on Thursday. The stock has a 50-day moving average of $3.34 and a two-hundred day moving average of $2.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 2.93. Holley has a one year low of $1.60 and a one year high of $4.09. The stock has a market cap of $345.23 million, a PE ratio of -11.02 and a beta of 1.36.

Holley (NYSE:HLLY) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Holley had a negative net margin of 5.12% and a positive return on equity of 5.81%. The business had revenue of $166.66 million during the quarter, compared to analysts’ expectations of $162.67 million. On average, research analysts anticipate that Holley will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David S. Lobel sold 2,100,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $2.63, for a total transaction of $5,523,000.00. Following the sale, the director directly owned 24,654,834 shares of the company’s stock, valued at $64,842,213.42. This trade represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Holley

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in Holley by 2.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company’s stock worth $22,289,000 after acquiring an additional 275,838 shares during the period. Boston Partners grew its holdings in Holley by 84.8% during the second quarter. Boston Partners now owns 4,807,536 shares of the company’s stock worth $9,615,000 after acquiring an additional 2,206,737 shares during the period. Bank of America Corp DE grew its holdings in Holley by 2.4% during the second quarter. Bank of America Corp DE now owns 1,498,337 shares of the company’s stock worth $2,997,000 after acquiring an additional 34,947 shares during the period. Geode Capital Management LLC grew its holdings in Holley by 9.0% during the second quarter. Geode Capital Management LLC now owns 1,320,321 shares of the company’s stock worth $2,641,000 after acquiring an additional 108,964 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Holley by 145.6% during the second quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company’s stock worth $2,496,000 after acquiring an additional 739,912 shares during the period. 39.70% of the stock is owned by institutional investors and hedge funds.

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.