Benchmark Boosts Holley (NYSE:HLLY) Price Target to $4.50

Holley (NYSE:HLLY) had its price target hoisted by investment analysts at Benchmark from $4.00 to $4.50 in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 16.43% from the stock’s previous close.

HLLY has been the subject of a number of other reports. Wall Street Zen upgraded shares of Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research note on Wednesday, October 8th. Telsey Advisory Group lifted their target price on shares of Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday. Canaccord Genuity Group increased their price target on shares of Holley from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Raymond James Financial boosted their price target on Holley from $2.25 to $3.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Holley has an average rating of “Moderate Buy” and an average target price of $4.30.

Holley Stock Up 6.8%

Shares of Holley stock traded up $0.25 during trading on Monday, reaching $3.87. The stock had a trading volume of 1,041,764 shares, compared to its average volume of 684,935. The company has a current ratio of 2.93, a quick ratio of 1.18 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $465.73 million, a price-to-earnings ratio of -17.52 and a beta of 1.36. The stock has a fifty day moving average price of $3.17 and a two-hundred day moving average price of $2.67. Holley has a 52 week low of $1.60 and a 52 week high of $4.09.

Holley (NYSE:HLLY) last announced its earnings results on Friday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $138.37 million during the quarter, compared to analyst estimates of $132.36 million. Holley had a negative net margin of 4.16% and a positive return on equity of 6.80%. Holley has set its FY 2025 guidance at EPS. Sell-side analysts predict that Holley will post 0.12 EPS for the current fiscal year.

Insider Activity at Holley

In related news, Director David S. Lobel sold 14,000,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $2.63, for a total transaction of $36,820,000.00. Following the sale, the director owned 26,754,834 shares in the company, valued at approximately $70,365,213.42. This trade represents a 34.35% decrease in their position. 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 Investors Weigh In On Holley

Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP boosted its holdings in shares of Holley by 12.8% during the 3rd quarter. GSA Capital Partners LLP now owns 336,090 shares of the company’s stock valued at $1,055,000 after acquiring an additional 38,010 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Holley by 3.1% in the third quarter. Vanguard Group Inc. now owns 3,677,058 shares of the company’s stock valued at $11,546,000 after buying an additional 110,170 shares during the period. JPMorgan Chase & Co. increased its position in Holley by 143.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 189,054 shares of the company’s stock valued at $594,000 after acquiring an additional 111,542 shares during the period. Bailard Inc. bought a new position in Holley during the 3rd quarter worth $271,000. Finally, Captrust Financial Advisors acquired a new position in Holley during the 2nd quarter worth about $44,000. 39.70% of the stock is currently 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.