Canaccord Genuity Group Issues Positive Forecast for Holley (NYSE:HLLY) Stock Price

Holley (NYSE:HLLY) had its price target hoisted by analysts at Canaccord Genuity Group from $6.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 92.84% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Telsey Advisory Group boosted their price objective on Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday. Benchmark increased their price target on shares of Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Monday. Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. DA Davidson lifted their target price on shares of Holley from $3.00 to $4.50 and gave the company a “neutral” rating in a research note on Monday. Finally, Raymond James Financial increased their price objective on shares of Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $4.50.

Holley Stock Performance

NYSE HLLY traded up $0.01 during trading on Monday, hitting $3.63. The company’s stock had a trading volume of 2,205,562 shares, compared to its average volume of 689,281. Holley has a 52 week low of $1.60 and a 52 week high of $4.09. The company has a quick ratio of 1.18, a current ratio of 2.93 and a debt-to-equity ratio of 1.24. The firm has a market cap of $437.42 million, a P/E ratio of -16.50 and a beta of 1.36. The firm has a 50 day moving average price of $3.17 and a 200 day moving average price of $2.67.

Holley (NYSE:HLLY) last released its earnings results on Friday, November 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $138.37 million for the quarter, compared to analyst estimates of $132.36 million. Holley had a negative net margin of 4.16% and a positive return on equity of 6.80%. Holley has set its FY 2025 guidance at EPS. Equities research analysts forecast that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Holley

In other Holley news, Director David S. Lobel sold 2,100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $2.63, for a total value of $5,523,000.00. Following the sale, the director owned 24,654,834 shares in the company, valued at approximately $64,842,213.42. The trade was a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HLLY. Allspring Global Investments Holdings LLC boosted its stake in shares of Holley by 2.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company’s stock worth $22,289,000 after buying an additional 275,838 shares during the last quarter. Boston Partners boosted its holdings in shares of Holley by 84.8% in the 2nd quarter. Boston Partners now owns 4,807,536 shares of the company’s stock valued at $9,615,000 after buying an additional 2,206,737 shares during the last quarter. Vanguard Group Inc. raised its position in Holley by 3.1% during the third quarter. Vanguard Group Inc. now owns 3,677,058 shares of the company’s stock worth $11,546,000 after acquiring an additional 110,170 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Holley by 2.4% in the second quarter. Bank of America Corp DE now owns 1,498,337 shares of the company’s stock valued at $2,997,000 after buying an additional 34,947 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Holley by 9.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,320,321 shares of the company’s stock worth $2,641,000 after acquiring an additional 108,964 shares during the last quarter. Institutional investors 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.