Truist Financial Has Lowered Expectations for Holley (NYSE:HLLY) Stock Price

Holley (NYSE:HLLY) had its target price reduced by Truist Financial from $5.00 to $3.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Telsey Advisory Group restated an “outperform” rating and issued a $4.50 price objective on shares of Holley in a research report on Wednesday, March 12th. Raymond James boosted their price target on Holley from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Wednesday, March 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Holley currently has an average rating of “Buy” and an average price target of $6.00.

Holley Price Performance

NYSE HLLY opened at $2.09 on Monday. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. Holley has a 12 month low of $2.06 and a 12 month high of $4.28. The stock has a market cap of $250.71 million, a price-to-earnings ratio of 16.08 and a beta of 1.41. The company’s 50 day moving average is $2.57 and its two-hundred day moving average is $2.77.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm had revenue of $140.05 million during the quarter, compared to analysts’ expectations of $137.60 million. During the same period in the prior year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, research analysts anticipate that Holley will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HLLY. Janney Montgomery Scott LLC boosted its stake in Holley by 25.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company’s stock valued at $48,000 after buying an additional 3,210 shares during the last quarter. Aigen Investment Management LP boosted its position in shares of Holley by 22.1% during the 4th quarter. Aigen Investment Management LP now owns 18,693 shares of the company’s stock valued at $56,000 after acquiring an additional 3,389 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Holley by 39.8% in the fourth quarter. SG Americas Securities LLC now owns 24,590 shares of the company’s stock valued at $74,000 after purchasing an additional 7,002 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Holley in the fourth quarter worth $26,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in Holley during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

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.