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

Shares of Holley Inc. (NYSE:HLLY) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.63.

Several equities research analysts have recently commented on HLLY shares. Truist Financial reduced their target price on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Telsey Advisory Group dropped their price objective on shares of Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Monday, November 11th. Raymond James reduced their target price on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group dropped their price target on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Holley in a research note on Wednesday, September 4th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HLLY. Squarepoint Ops LLC raised its position in shares of Holley by 3.3% during the second quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock worth $490,000 after purchasing an additional 4,413 shares during the period. Algert Global LLC raised its holdings in Holley by 31.1% during the 2nd quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after buying an additional 4,924 shares during the period. Sei Investments Co. lifted its stake in Holley by 1.3% in the first quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock valued at $1,801,000 after buying an additional 5,000 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Holley by 1.8% in the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock valued at $1,104,000 after buying an additional 5,431 shares during the period. Finally, Zacks Investment Management increased its position in shares of Holley by 69.5% during the third quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock worth $58,000 after acquiring an additional 8,061 shares in the last quarter. 39.70% of the stock is owned by institutional investors and hedge funds.

Holley Stock Performance

NYSE HLLY opened at $2.62 on Wednesday. Holley has a twelve month low of $2.29 and a twelve month high of $5.23. 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 $313.87 million, a P/E ratio of 20.15 and a beta of 1.45. The company’s 50-day simple moving average is $2.87 and its 200 day simple moving average is $3.30.

Holley (NYSE:HLLY) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $134.00 million during 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 company’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. As a group, research analysts forecast that Holley will post 0.14 earnings per share for the current fiscal 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.