Holley’s (HLLY) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Holley (NYSE:HLLY) in a research note published on Friday morning,Benzinga reports. Telsey Advisory Group currently has a $3.50 price objective on the stock.

A number of other analysts have also recently weighed in on the company. Canaccord Genuity Group raised their price target on Holley from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research note on Wednesday, October 8th. Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Benchmark upgraded Holley from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Friday, August 8th. Finally, Raymond James Financial lifted their target price on Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3.90.

Holley Stock Down 0.6%

Shares of NYSE HLLY opened at $2.86 on Friday. Holley has a 12-month low of $1.60 and a 12-month high of $4.09. The company has a current ratio of 2.93, a quick ratio of 1.18 and a debt-to-equity ratio of 1.24. The stock has a market cap of $345.11 million, a P/E ratio of -11.02 and a beta of 1.36. The business’s fifty day simple moving average is $3.27 and its 200-day simple moving average is $2.64.

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

Insider Activity

In related news, Director David S. Lobel sold 14,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $2.63, for a total transaction of $36,820,000.00. Following the transaction, the director owned 26,754,834 shares of the company’s stock, valued at $70,365,213.42. This trade represents a 34.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Holley

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bailard Inc. purchased a new position in shares of Holley during the third quarter worth about $271,000. Captrust Financial Advisors purchased a new position in shares of Holley during the second quarter worth about $44,000. Brevan Howard Capital Management LP grew its holdings in shares of Holley by 103.4% during the second quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company’s stock worth $45,000 after buying an additional 11,494 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Holley by 2.4% during the second quarter. Bank of America Corp DE now owns 1,498,337 shares of the company’s stock worth $2,997,000 after buying an additional 34,947 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Holley by 16.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock valued at $65,000 after purchasing an additional 4,661 shares in the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

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.