Holley Inc. (NYSE:HLLY) Given Average Rating of “Moderate Buy” by Analysts

Holley Inc. (NYSE:HLLY) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.00.

Several equities research analysts have commented on the company. Weiss Ratings raised Holley from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, March 23rd. Canaccord Genuity Group boosted their target price on Holley from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. DA Davidson set a $4.50 target price on Holley in a report on Thursday, March 5th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $5.00 target price on shares of Holley in a report on Thursday, March 5th.

Holley Trading Down 1.0%

NYSE HLLY opened at $3.32 on Thursday. The company has a quick ratio of 0.96, a current ratio of 2.75 and a debt-to-equity ratio of 1.15. Holley has a twelve month low of $1.60 and a twelve month high of $4.48. The firm has a market capitalization of $400.92 million, a PE ratio of 22.10 and a beta of 1.42. The stock’s 50 day moving average is $3.42 and its 200 day moving average is $3.66.

Holley (NYSE:HLLY) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05). Holley had a net margin of 3.13% and a return on equity of 4.84%. The firm had revenue of $155.44 million for the quarter, compared to the consensus estimate of $142.76 million. Research analysts forecast that Holley will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Holley

Several hedge funds have recently added to or reduced their stakes in HLLY. Wasatch Advisors LP bought a new stake in Holley in the third quarter worth $18,762,000. Boston Partners boosted its holdings in Holley by 59.2% in the third quarter. Boston Partners now owns 7,652,545 shares of the company’s stock worth $24,028,000 after acquiring an additional 2,845,009 shares in the last quarter. Advisory Research Inc. bought a new stake in Holley in the third quarter worth $7,065,000. Hillsdale Investment Management Inc. boosted its holdings in Holley by 76,322.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,910,561 shares of the company’s stock worth $7,891,000 after acquiring an additional 1,908,061 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Holley in the third quarter worth $3,435,000. 39.70% of the stock is owned by institutional investors.

Holley Company Profile

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.