Telsey Advisory Group Reiterates Outperform Rating for Holley (NYSE:HLLY)

Holley (NYSE:HLLY)‘s stock had its “outperform” rating reiterated by equities researchers at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $4.50 target price on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 51.01% from the stock’s current price.

Holley Trading Down 1.3 %

Shares of HLLY opened at $2.98 on Wednesday. Holley has a one year low of $2.29 and a one year high of $5.23. The stock has a 50-day moving average price of $2.84 and a 200 day moving average price of $3.09. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. The company has a market capitalization of $357.00 million, a P/E ratio of 22.92 and a beta of 1.47.

Holley (NYSE:HLLY) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.01) earnings per share 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 analyst estimates of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. Sell-side analysts forecast that Holley will post 0.12 EPS for the current fiscal year.

Insider Transactions at Holley

In other Holley 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 completion of the transaction, the director now owns 41,556,961 shares of the company’s stock, valued at $124,670,883. The trade was a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of Holley

A number of institutional investors and hedge funds have recently modified their holdings of HLLY. Verition Fund Management LLC acquired a new stake in Holley during the third quarter worth about $35,000. Intech Investment Management LLC acquired a new stake in shares of Holley during the 3rd quarter worth approximately $41,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Holley in the 2nd quarter worth approximately $42,000. SG Americas Securities LLC acquired a new position in Holley during the 3rd quarter valued at approximately $52,000. Finally, Virtu Financial LLC acquired a new position in Holley during the 3rd quarter valued at approximately $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.