Holley (NYSE:HLLY) Price Target Lowered to $7.50 at JPMorgan Chase & Co.

Holley (NYSE:HLLY) had its price target lowered by JPMorgan Chase & Co. from $9.00 to $7.50 in a report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

HLLY has been the subject of several other reports. DA Davidson raised their price objective on shares of Holley from $6.50 to $9.00 in a report on Friday, August 11th. Telsey Advisory Group cut Holley from an outperform rating to a market perform rating and set a $9.00 price target for the company. in a research report on Friday, November 3rd. Truist Financial increased their price objective on Holley from $8.00 to $10.00 and gave the stock a buy rating in a report on Friday, August 11th. William Blair started coverage on Holley in a report on Thursday, August 17th. They set an outperform rating for the company. Finally, Raymond James increased their price target on shares of Holley from $6.25 to $8.25 and gave the stock an outperform rating in a report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Holley currently has a consensus rating of Moderate Buy and a consensus target price of $9.25.

Holley Trading Up 0.2 %

Shares of HLLY stock opened at $4.22 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 3.23 and a debt-to-equity ratio of 1.45. The firm has a market cap of $499.39 million, a P/E ratio of 14.55 and a beta of 1.71. The company has a 50 day moving average of $4.86 and a 200-day moving average of $4.55. Holley has a 12-month low of $1.88 and a 12-month high of $8.06.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.08. Holley had a negative return on equity of 1.10% and a net margin of 5.12%. The company had revenue of $175.30 million during the quarter, compared to the consensus estimate of $172.61 million. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Holley will post 0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David S. Lobel sold 5,500,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $6.30, for a total transaction of $34,650,000.00. Following the sale, the director now owns 49,173,884 shares in the company, valued at approximately $309,795,469.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Holley

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in Holley in the third quarter worth approximately $100,000. Barclays PLC grew its holdings in shares of Holley by 70.0% during the 3rd quarter. Barclays PLC now owns 17,870 shares of the company’s stock valued at $89,000 after purchasing an additional 7,356 shares during the last quarter. Arizona State Retirement System purchased a new position in Holley in the 3rd quarter worth $67,000. Precision Wealth Strategies LLC lifted its stake in Holley by 48.3% in the third quarter. Precision Wealth Strategies LLC now owns 14,835 shares of the company’s stock worth $74,000 after purchasing an additional 4,832 shares during the last quarter. Finally, Skylands Capital LLC boosted its position in Holley by 53.8% during the third quarter. Skylands Capital LLC now owns 549,800 shares of the company’s stock valued at $2,744,000 after buying an additional 192,400 shares during the period. 78.44% of the stock is currently owned by institutional investors.

About Holley

Holley Inc designs, manufactures, and markets automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. The company's 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.