Holley Inc. (NYSE:HLLY) Receives $4.50 Average Price Target from Brokerages

Holley Inc. (NYSE:HLLY) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $4.50.

A number of equities research analysts have commented on HLLY shares. Canaccord Genuity Group restated a “buy” rating on shares of Holley in a report on Tuesday, December 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Holley in a research report on Thursday, January 22nd. Telsey Advisory Group raised their target price on Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Benchmark upped their price target on Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, DA Davidson increased their price target on Holley from $3.00 to $4.50 and gave the stock a “neutral” rating in a report on Monday, November 10th.

Holley Trading Up 4.8%

Shares of HLLY stock opened at $4.04 on Friday. Holley has a fifty-two week low of $1.60 and a fifty-two week high of $4.43. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.06 and a current ratio of 2.78. The stock has a 50 day simple moving average of $4.16 and a two-hundred day simple moving average of $3.53. The company has a market cap of $486.26 million, a P/E ratio of -18.34 and a beta of 1.33.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $138.37 million for the quarter, compared to the consensus estimate of $132.36 million. Holley had a positive return on equity of 6.75% and a negative net margin of 4.16%. Research analysts forecast that Holley will post 0.12 earnings per share for the current year.

Institutional Trading of Holley

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in Holley by 2.7% during 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 during the last quarter. Boston Partners increased its position in shares of Holley by 59.2% during the third quarter. Boston Partners now owns 7,652,545 shares of the company’s stock worth $24,028,000 after acquiring an additional 2,845,009 shares in the last quarter. Wasatch Advisors LP acquired a new stake in shares of Holley in the 3rd quarter worth about $18,762,000. Blue Owl Capital Holdings LP raised its holdings in shares of Holley by 18.2% in the 3rd quarter. Blue Owl Capital Holdings LP now owns 4,862,361 shares of the company’s stock worth $15,268,000 after acquiring an additional 750,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Holley by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,677,058 shares of the company’s stock valued at $11,546,000 after acquiring an additional 110,170 shares in the last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.