Holley’s (HLLY) “Buy” Rating Reiterated at Benchmark

Holley (NYSE:HLLY)‘s stock had its “buy” rating reaffirmed by Benchmark in a report released on Thursday, Benzinga reports. They currently have a $12.00 price target on the stock. Benchmark’s price target would suggest a potential upside of 167.86% from the company’s current price.

HLLY has been the subject of a number of other reports. Truist Financial dropped their target price on shares of Holley from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, February 29th. JPMorgan Chase & Co. cut shares of Holley from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $6.50 to $5.00 in a research note on Tuesday, February 20th. Canaccord Genuity Group dropped their price objective on shares of Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $9.00 price objective on shares of Holley in a research note on Thursday, February 29th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Holley Stock Performance

Shares of HLLY traded up $0.03 during mid-day trading on Thursday, hitting $4.48. 39,963 shares of the company’s stock were exchanged, compared to its average volume of 302,017. Holley has a fifty-two week low of $2.08 and a fifty-two week high of $8.06. The firm has a market capitalization of $531.18 million, a P/E ratio of 26.59 and a beta of 1.52. The business’s 50 day moving average is $4.57 and its two-hundred day moving average is $4.56. The company has a current ratio of 3.17, a quick ratio of 1.12 and a debt-to-equity ratio of 1.31.

Holley (NYSE:HLLY) last announced its earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $155.70 million during the quarter, compared to the consensus estimate of $153.26 million. Holley had a net margin of 2.91% and a return on equity of 5.77%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. On average, equities analysts expect that Holley will post 0.33 earnings per share for the current year.

Insider Activity

In other news, Director Graham Clempson bought 59,076 shares of Holley stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $4.18 per share, with a total value of $246,937.68. Following the purchase, the director now directly owns 63,851 shares of the company’s stock, valued at approximately $266,897.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Holley

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Holley by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 3,150,765 shares of the company’s stock worth $15,344,000 after purchasing an additional 88,300 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Holley by 43.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 148,715 shares of the company’s stock valued at $724,000 after purchasing an additional 44,984 shares during the last quarter. Barclays PLC boosted its stake in shares of Holley by 364.8% in the 4th quarter. Barclays PLC now owns 83,064 shares of the company’s stock valued at $405,000 after purchasing an additional 65,194 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Holley by 3.3% in the 4th quarter. Nuveen Asset Management LLC now owns 214,850 shares of the company’s stock valued at $1,046,000 after purchasing an additional 6,937 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Holley by 12.2% in the 4th quarter. Royal Bank of Canada now owns 65,943 shares of the company’s stock valued at $321,000 after purchasing an additional 7,178 shares during the last quarter. 39.70% of the stock is owned by institutional investors.

About Holley

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.