Analysts Set Holley Inc. (NYSE:HLLY) Target Price at $4.90

Holley Inc. (NYSE:HLLY – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $4.90.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Holley from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 3rd. Canaccord Genuity Group lowered their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, May 7th. DA Davidson set a $4.50 price objective on shares of Holley in a research report on Thursday, March 5th. Telsey Advisory Group reissued an “outperform” rating and set a $5.00 price objective on shares of Holley in a research report on Thursday, March 5th. Finally, Wall Street Zen downgraded shares of Holley from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th.

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Institutional Trading of Holley

A number of institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC lifted its stake in shares of Holley by 8.1% in the 1st quarter. Empowered Funds LLC now owns 283,049 shares of the company’s stock worth $727,000 after purchasing an additional 21,121 shares during the period. Geode Capital Management LLC raised its position in shares of Holley by 9.0% during the second quarter. Geode Capital Management LLC now owns 1,320,321 shares of the company’s stock valued at $2,641,000 after buying an additional 108,964 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Holley by 195.1% during the second quarter. JPMorgan Chase & Co. now owns 77,512 shares of the company’s stock valued at $155,000 after buying an additional 51,247 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Holley by 51.1% in the second quarter. Rhumbline Advisers now owns 103,287 shares of the company’s stock valued at $207,000 after purchasing an additional 34,914 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Holley by 10.0% in the second quarter. American Century Companies Inc. now owns 118,727 shares of the company’s stock valued at $237,000 after purchasing an additional 10,767 shares in the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Stock Performance

NYSE HLLY opened at $2.57 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.07 and a current ratio of 3.17. The company has a market capitalization of $311.54 million, a PE ratio of 13.50 and a beta of 1.32. Holley has a 52-week low of $1.92 and a 52-week high of $4.48. The company has a 50-day simple moving average of $2.90 and a 200 day simple moving average of $3.57.

Holley (NYSE:HLLY – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Holley had a net margin of 3.89% and a return on equity of 5.46%. The firm had revenue of $147.33 million during the quarter, compared to the consensus estimate of $152.06 million. On average, research analysts predict that Holley will post 0.3 EPS for the current year.

Holley announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 26th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Holley Company Profile

(Get Free Report)

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.

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