Holley (NYSE:HLLY – Get Free Report) was upgraded by research analysts at Freedom Capital to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.
Several other brokerages also recently commented on HLLY. Weiss Ratings downgraded Holley from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 17th. Raymond James Financial set a $4.00 price target on Holley in a report on Thursday, May 7th. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of Holley in a report on Monday, June 29th. Wall Street Zen cut shares of Holley from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Benchmark dropped their target price on Holley from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.90.
Get Our Latest Stock Report on Holley
Holley Trading Up 2.2%
Holley (NYSE:HLLY – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Holley had a return on equity of 5.46% and a net margin of 3.89%.The firm had revenue of $147.33 million during the quarter, compared to analysts’ expectations of $152.06 million. As a group, research analysts predict that Holley will post 0.31 earnings per share for the current year.
Holley declared that its board has authorized a stock buyback plan on Tuesday, May 26th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Institutional Investors Weigh In On Holley
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in Holley by 8.1% during the first 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 last quarter. Geode Capital Management LLC grew its stake in Holley by 9.0% in the 2nd 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. increased its stake in shares of Holley by 195.1% during the second quarter. JPMorgan Chase & Co. now owns 77,512 shares of the company’s stock worth $155,000 after purchasing an additional 51,247 shares during the period. Rhumbline Advisers lifted its holdings in shares of Holley by 51.1% during the second quarter. Rhumbline Advisers now owns 103,287 shares of the company’s stock worth $207,000 after buying an additional 34,914 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Holley by 10.0% in the 2nd 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 during the period. Institutional investors and hedge funds own 39.70% of the company’s stock.
About Holley
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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