Analysts Set Holley Inc. (NYSE:HLLY) PT at $6.63

Holley Inc. (NYSE:HLLY) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $6.63.

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $4.50 price objective on shares of Holley in a research note on Wednesday.

Holley Price Performance

Shares of NYSE:HLLY opened at $2.98 on Thursday. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The stock has a market cap of $357.00 million, a PE ratio of 22.92 and a beta of 1.42. The company’s fifty day moving average is $2.83 and its 200 day moving average is $3.09. Holley has a 52 week low of $2.29 and a 52 week high of $5.23.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $134.00 million for the quarter, compared to the consensus estimate of $142.53 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. Research analysts anticipate that Holley will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Holley

In related news, Director David S. Lobel sold 1,743,356 shares of Holley stock in a transaction on Monday, December 16th. The shares were sold at an average price of $3.00, for a total value of $5,230,068.00. Following the sale, the director now owns 41,556,961 shares in the company, valued at $124,670,883. The trade was a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Holley

Several institutional investors and hedge funds have recently modified their holdings of HLLY. Allspring Global Investments Holdings LLC raised its stake in Holley by 6.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company’s stock worth $30,117,000 after buying an additional 618,449 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Holley by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock worth $3,357,000 after acquiring an additional 55,641 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Holley by 52.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after purchasing an additional 334,940 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Holley by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company’s stock valued at $1,308,000 after purchasing an additional 43,053 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its stake in Holley by 1.8% in the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after purchasing an additional 5,431 shares during the period. 39.70% of the stock is owned by hedge funds and other 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.