Holley Inc. (NYSE:HLLY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Holley Inc. (NYSE:HLLY) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $7.75.

Several brokerages have weighed in on HLLY. Truist Financial lowered their target price on shares of Holley from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered shares of Holley from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $6.50 to $5.00 in a research report on Tuesday, February 20th. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Holley in a research note on Thursday, March 28th. Canaccord Genuity Group cut their target price on shares of Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $9.00 price target on shares of Holley in a research report on Thursday, February 29th.

Insider Transactions at Holley

In other news, Director Graham Clempson acquired 59,076 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $4.18 per share, with a total value of $246,937.68. Following the transaction, the director now directly owns 63,851 shares in the company, valued at approximately $266,897.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HLLY. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Holley in the 3rd quarter valued at approximately $61,000. Tower Research Capital LLC TRC increased its stake in Holley by 410.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company’s stock valued at $66,000 after purchasing an additional 10,867 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of Holley during the third quarter worth $67,000. Precision Wealth Strategies LLC lifted its position in shares of Holley by 48.3% in the 3rd quarter. Precision Wealth Strategies LLC now owns 14,835 shares of the company’s stock worth $74,000 after buying an additional 4,832 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Holley in the 3rd quarter valued at about $81,000. 39.70% of the stock is owned by institutional investors and hedge funds.

Holley Trading Down 0.2 %

Shares of Holley stock opened at $4.01 on Friday. The company’s fifty day moving average is $4.28 and its two-hundred day moving average is $4.44. Holley has a 1 year low of $2.08 and a 1 year high of $8.06. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.12 and a current ratio of 3.17. The company has a market capitalization of $476.39 million, a P/E ratio of 23.59 and a beta of 1.52.

Holley (NYSE:HLLY) last released its earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $155.70 million for the quarter, compared to analyst estimates of $153.26 million. Holley had a return on equity of 5.77% and a net margin of 2.91%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) earnings per share. Analysts forecast that Holley will post 0.33 earnings per share for the current year.

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.