Holley (NYSE:HLLY) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Holley (NYSE:HLLY) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks reports.

HLLY has been the subject of a number of other reports. Weiss Ratings downgraded shares of Holley from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Freedom Capital downgraded shares of Holley from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of Holley in a report on Monday, June 29th. Finally, Wall Street Zen raised shares of Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.90.

Holley Trading Up 1.5%

Shares of Holley stock opened at $2.35 on Monday. Holley has a fifty-two week low of $2.25 and a fifty-two week high of $4.48. The firm has a market cap of $285.50 million, a PE ratio of 29.44 and a beta of 1.39. The business’s fifty day moving average is $2.79 and its two-hundred day moving average is $2.78. The company has a quick ratio of 1.39, a current ratio of 3.06 and a debt-to-equity ratio of 1.15.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $172.63 million. Analysts anticipate that Holley will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new position in shares of Holley during the 2nd quarter valued at $179,000. Penn Capital Management Company LLC purchased a new stake in Holley during the 2nd quarter worth $628,000. Empowered Funds LLC acquired a new stake in Holley in the 2nd quarter valued at $1,499,000. Bamco Inc. NY acquired a new stake in Holley in the 2nd quarter valued at $8,288,000. Finally, Bank of America Corp DE acquired a new stake in Holley in the 2nd quarter valued at $4,638,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

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.