DA Davidson Issues Positive Forecast for Holley (NYSE:HLLY) Stock Price

Holley (NYSE:HLLY) had its price objective raised by DA Davidson from $3.00 to $4.50 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also recently commented on HLLY. Raymond James Financial upped their price target on Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Telsey Advisory Group upped their price objective on shares of Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday. Benchmark lifted their target price on shares of Holley from $4.00 to $4.50 and gave the company a “buy” rating in a report on Monday. Wall Street Zen raised shares of Holley from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Holley currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Holley Stock Performance

NYSE HLLY opened at $3.63 on Monday. The firm has a market cap of $437.42 million, a P/E ratio of -16.50 and a beta of 1.36. Holley has a 52-week low of $1.60 and a 52-week high of $4.09. The business’s 50-day moving average price is $3.17 and its 200 day moving average price is $2.68. The company has a quick ratio of 1.18, a current ratio of 2.93 and a debt-to-equity ratio of 1.24.

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

Insider Activity

In other news, Director David S. Lobel sold 2,100,000 shares of Holley stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $2.63, for a total transaction of $5,523,000.00. Following the completion of the sale, the director directly owned 24,654,834 shares in the company, valued at approximately $64,842,213.42. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Holley

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC acquired a new position in Holley during the second quarter worth $25,000. Nisa Investment Advisors LLC grew its holdings in Holley by 994.4% in the first quarter. Nisa Investment Advisors LLC now owns 16,536 shares of the company’s stock valued at $42,000 after purchasing an additional 15,025 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Holley in the second quarter valued at $44,000. Brevan Howard Capital Management LP raised its stake in shares of Holley by 103.4% during the 2nd quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company’s stock worth $45,000 after buying an additional 11,494 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Holley during the 2nd quarter worth $47,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

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.