Holley Inc. (NYSE:HLLY) Stock Rated “Hold” by Wall Street Analysts

Shares of Holley Inc. (NYSE:HLLY) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $4.90.

Several research analysts recently issued reports on HLLY shares. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 target price on shares of Holley in a research note on Monday, June 29th. Zacks Research downgraded shares of Holley from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Freedom Capital lowered shares of Holley from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings downgraded Holley from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HLLY. BlackRock Inc. bought a new position in shares of Holley in the 2nd quarter worth $14,361,000. Blue Owl Capital Holdings LP acquired a new stake in shares of Holley in the 2nd quarter worth about $11,161,000. Bank of America Corp DE bought a new position in Holley in the 2nd quarter valued at about $4,638,000. Dimensional Fund Advisors LP lifted its position in Holley by 25.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,447,266 shares of the company’s stock valued at $7,512,000 after acquiring an additional 495,923 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in Holley during the 2nd quarter valued at about $1,499,000. Institutional investors own 39.70% of the company’s stock.

Holley Stock Performance

Shares of Holley stock opened at $2.50 on Thursday. The company has a market cap of $303.20 million, a P/E ratio of 31.26 and a beta of 1.39. The company has a current ratio of 3.06, a quick ratio of 1.39 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $2.76 and a two-hundred day moving average price of $2.76. Holley has a 1-year low of $2.25 and a 1-year high of $4.48.

Holley (NYSE:HLLY) last released its earnings results on Wednesday, August 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. Holley had a return on equity of 8.41% and a net margin of 1.68%. The business had revenue of $172.01 million during the quarter, compared to analysts’ expectations of $172.63 million. As a group, analysts anticipate that Holley will post 0.39 EPS for the current year.

About Holley

Holley Inc (NYSE:HLLY) is an automotive aftermarket company that develops, manufactures and distributes performance products for enthusiasts, racers and professional automotive customers. Its offerings are designed for street performance, racing, off-road applications and vehicle restoration.

The company’s product portfolio includes fuel systems, electronic fuel injection and engine-management systems, ignition products, exhaust components, intake systems, engine parts, suspension products, wheels, safety equipment and related accessories.