Holley Inc. (NYSE:HLLY) Receives $6.39 Consensus Price Target from Brokerages

Holley Inc. (NYSE:HLLY) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $6.63.

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

Holley Stock Down 1.5 %

Shares of Holley stock opened at $2.62 on Wednesday. Holley has a 52-week low of $2.29 and a 52-week high of $5.23. 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 business’s 50 day simple moving average is $2.87 and its 200 day simple moving average is $3.30. The firm has a market cap of $313.87 million, a PE ratio of 20.15 and a beta of 1.45.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Holley had a return on equity of 2.59% and a net margin of 2.55%. The business had revenue of $134.00 million during the quarter, compared to the consensus estimate of $142.53 million. During the same period in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, analysts predict that Holley will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Holley

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

About Holley

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.