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

Holley Inc. (NYSE:HLLY) has been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $6.63.

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 price target on shares of Holley in a research note on Wednesday, January 8th.

Holley Stock Performance

HLLY stock opened at $3.15 on Monday. The stock’s 50 day simple moving average is $2.90 and its 200 day simple moving average is $3.05. 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 $2.29 and a 12-month high of $5.23. The stock has a market capitalization of $376.77 million, a PE ratio of 24.19 and a beta of 1.42.

Holley (NYSE:HLLY) last announced its quarterly earnings results 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 business had revenue of $134.00 million for the quarter, compared to the consensus estimate of $142.53 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, research analysts forecast that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Holley

In other news, Director David S. Lobel sold 1,743,356 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the sale, the director now directly owns 41,556,961 shares in the company, valued at $124,670,883. This represents a 4.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.92% of the stock is owned by corporate insiders.

Institutional Trading of Holley

Several hedge funds have recently bought and sold shares of HLLY. Cottonwood Capital Advisors LLC bought a new position in shares of Holley in the fourth quarter worth about $32,000. Verition Fund Management LLC purchased a new position in Holley during the third quarter worth $35,000. Intech Investment Management LLC purchased a new position in Holley during the 3rd quarter valued at $41,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Holley during the second quarter valued at approximately $42,000. Finally, Williams & Novak LLC purchased a new stake in shares of Holley in the 4th quarter worth $44,000. Institutional investors own 39.70% of the company’s stock.

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.