Holley Inc. (NYSE:HLLY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Holley Inc. (NYSE:HLLY) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.63.

HLLY has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Telsey Advisory Group cut their target price on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Monday, November 11th.

Holley Stock Up 0.3 %

Shares of HLLY opened at $3.02 on Thursday. Holley has a 52-week low of $2.29 and a 52-week 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 fifty day simple moving average of $2.80 and a two-hundred day simple moving average of $3.11. The company has a market capitalization of $361.79 million, a PE ratio of 23.23 and a beta of 1.47.

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). Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. During the same period in the prior year, the company posted $0.03 EPS. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, equities analysts forecast that Holley will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, Director David S. Lobel sold 1,743,356 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the transaction, the director now owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. This represents a 4.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Holley

Several institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Holley in the second quarter valued at approximately $42,000. Verition Fund Management LLC purchased a new position in Holley in the 3rd quarter valued at approximately $35,000. Intech Investment Management LLC acquired a new position in shares of Holley in the third quarter worth $41,000. SG Americas Securities LLC purchased a new stake in shares of Holley during the third quarter worth $52,000. Finally, Virtu Financial LLC acquired a new stake in shares of Holley in the third quarter valued at $54,000. 39.70% of the stock is owned by institutional investors and hedge funds.

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.