Holley (NYSE:HLLY) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Holley (NYSE:HLLY) in a research report released on Friday, Benzinga reports. Canaccord Genuity Group currently has a $8.00 price target on the stock.

Other analysts have also issued research reports about the stock. Benchmark reiterated a buy rating and set a $12.00 price objective on shares of Holley in a research note on Tuesday. Truist Financial reduced their price target on Holley from $9.00 to $8.00 and set a buy rating for the company in a report on Thursday, February 29th. Finally, Telsey Advisory Group restated an outperform rating and set a $6.50 price objective on shares of Holley in a report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Holley has an average rating of Moderate Buy and a consensus price target of $7.47.

Holley Price Performance

HLLY stock opened at $3.56 on Friday. The stock has a 50-day simple moving average of $3.83 and a 200-day simple moving average of $4.32. The firm has a market cap of $424.74 million, a P/E ratio of 22.25 and a beta of 1.49. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.04 and a current ratio of 2.85. Holley has a 1 year low of $3.16 and a 1 year high of $8.06.

Insider Transactions at Holley

In other news, Chairman Matthew E. Rubel purchased 14,493 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were acquired at an average cost of $3.39 per share, with a total value of $49,131.27. Following the transaction, the chairman now owns 169,979 shares in the company, valued at approximately $576,228.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Holley

A number of large investors have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new stake in shares of Holley during the 1st quarter worth approximately $43,000. Tower Research Capital LLC TRC lifted its stake in Holley by 410.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company’s stock valued at $66,000 after buying an additional 10,867 shares during the last quarter. Barclays PLC boosted its holdings in shares of Holley by 70.0% during the third quarter. Barclays PLC now owns 17,870 shares of the company’s stock valued at $89,000 after acquiring an additional 7,356 shares during the period. SYSTM Wealth Solutions LLC bought a new position in shares of Holley during the first quarter worth about $90,000. Finally, Numerai GP LLC acquired a new stake in shares of Holley in the 3rd quarter worth about $98,000. 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.