Holley Inc. (NYSE:HLLY) Given Consensus Rating of “Moderate Buy” by Brokerages

Holley Inc. (NYSE:HLLY) has earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $7.75.

Several equities analysts have issued reports on HLLY shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $9.00 price objective on shares of Holley in a research report on Thursday, February 29th. Benchmark reissued a “buy” rating and issued a $12.00 target price on shares of Holley in a research note on Thursday, March 28th. Truist Financial lowered their target price on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. JPMorgan Chase & Co. cut Holley from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $6.50 to $5.00 in a research note on Tuesday, February 20th. Finally, Canaccord Genuity Group lowered their target price on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 29th.

Holley Trading Down 1.7 %

Shares of HLLY opened at $4.00 on Friday. The stock has a fifty day moving average price of $4.31 and a two-hundred day moving average price of $4.45. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.12 and a current ratio of 3.17. Holley has a 52-week low of $2.08 and a 52-week high of $8.06. The company has a market cap of $475.20 million, a price-to-earnings ratio of 23.53 and a beta of 1.52.

Holley (NYSE:HLLY) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Holley had a return on equity of 5.77% and a net margin of 2.91%. The firm had revenue of $155.70 million during the quarter, compared to the consensus estimate of $153.26 million. During the same quarter in the previous year, the company posted ($0.19) EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts predict that Holley will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Graham Clempson acquired 59,076 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $4.18 per share, with a total value of $246,937.68. Following the completion of the purchase, the director now directly owns 63,851 shares in the company, valued at $266,897.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Holley

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Holley during the third quarter worth about $81,000. Denali Advisors LLC bought a new position in Holley during the third quarter worth about $290,000. Deltec Asset Management LLC bought a new position in Holley during the third quarter worth about $574,000. Bank of New York Mellon Corp lifted its holdings in Holley by 2.3% during the third quarter. Bank of New York Mellon Corp now owns 286,771 shares of the company’s stock worth $1,431,000 after acquiring an additional 6,558 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Holley during the third quarter worth about $61,000. 39.70% of the stock is owned by institutional investors and hedge funds.

Holley Company Profile

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.