Holley Inc. (NYSE:HLLY) Given Average Recommendation of “Buy” by Analysts

Shares of Holley Inc. (NYSE:HLLY) have been assigned an average rating of “Buy” from the five analysts that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $3.75.

HLLY has been the topic of several research reports. Benchmark upgraded shares of Holley from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Friday, August 8th. Canaccord Genuity Group upped their price objective on shares of Holley from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Telsey Advisory Group reissued an “outperform” rating and set a $2.75 target price on shares of Holley in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Raymond James Financial increased their target price on shares of Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th.

Holley Stock Performance

NYSE HLLY opened at $4.01 on Wednesday. The firm’s fifty day moving average price is $2.76 and its two-hundred day moving average price is $2.46. The stock has a market cap of $482.60 million, a PE ratio of -15.40 and a beta of 1.42. Holley has a fifty-two week low of $1.60 and a fifty-two week high of $4.09. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 2.93.

Holley (NYSE:HLLY) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $166.66 million for the quarter, compared to analyst estimates of $162.67 million. Holley had a positive return on equity of 5.81% and a negative net margin of 5.12%. On average, equities analysts expect that Holley will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Holley

Large investors have recently added to or reduced their stakes in the company. Boston Partners boosted its stake in shares of Holley by 84.8% during the 2nd quarter. Boston Partners now owns 4,807,536 shares of the company’s stock valued at $9,615,000 after purchasing an additional 2,206,737 shares in the last quarter. Franklin Resources Inc. boosted its stake in Holley by 145.6% during the second quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company’s stock worth $2,496,000 after acquiring an additional 739,912 shares in the last quarter. Mink Brook Asset Management LLC bought a new stake in Holley during the fourth quarter worth about $1,666,000. Bank of America Corp DE boosted its stake in Holley by 53.4% during the fourth quarter. Bank of America Corp DE now owns 1,076,956 shares of the company’s stock worth $3,252,000 after acquiring an additional 374,691 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Holley by 2.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company’s stock worth $22,289,000 after buying an additional 275,838 shares in the last quarter. Institutional investors own 39.70% of the company’s stock.

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.