Raymond James Forecasts Strong Price Appreciation for Holley (NYSE:HLLY) Stock

Holley (NYSE:HLLY) had its price objective hoisted by Raymond James from $3.00 to $3.50 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $4.50 price objective on shares of Holley in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Holley presently has a consensus rating of “Buy” and a consensus target price of $6.80.

Holley Stock Down 1.0 %

HLLY stock opened at $2.41 on Wednesday. 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 firm has a market capitalization of $288.11 million, a PE ratio of 18.50 and a beta of 1.44. Holley has a twelve month low of $2.26 and a twelve month high of $4.58. The stock has a 50-day simple moving average of $2.87 and a two-hundred day simple moving average of $2.89.

Holley (NYSE:HLLY) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.02 by $0.09. Holley had a return on equity of 2.59% and a net margin of 2.55%. The company had revenue of $140.05 million during the quarter, compared to analyst estimates of $137.60 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. Holley’s revenue was down 10.1% on a year-over-year basis. On average, equities analysts predict that Holley will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David S. Lobel sold 1,743,356 shares of the business’s stock in a transaction that occurred 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 owns 41,556,961 shares in the company, valued at $124,670,883. The trade was a 4.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Holley

A number of hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC lifted its position in Holley by 112.9% in the 4th quarter. Squarepoint Ops LLC now owns 46,636 shares of the company’s stock worth $141,000 after buying an additional 24,733 shares during the last quarter. ProShare Advisors LLC bought a new stake in Holley in the fourth quarter valued at approximately $40,000. Mink Brook Asset Management LLC bought a new stake in Holley in the fourth quarter valued at approximately $1,666,000. Graham Capital Management L.P. bought a new stake in Holley in the fourth quarter valued at approximately $105,000. Finally, Bridgeway Capital Management LLC lifted its position in Holley by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 573,228 shares of the company’s stock valued at $1,731,000 after purchasing an additional 12,955 shares during the last quarter. 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.