Brokerages Set Holley Inc. (NYSE:HLLY) Price Target at $6.63

Shares of Holley Inc. (NYSE:HLLY) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.63.

HLLY has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and set a $12.00 target price on shares of Holley in a research note on Wednesday, September 4th. Telsey Advisory Group cut their price target on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Monday, November 11th.

Hedge Funds Weigh In On Holley

Hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Holley by 129.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock worth $34,335,000 after buying an additional 5,409,997 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Holley by 52.3% in the second quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after acquiring an additional 334,940 shares in the last quarter. Skylands Capital LLC boosted its stake in shares of Holley by 37.6% in the second quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock worth $4,023,000 after acquiring an additional 306,874 shares during the period. Renaissance Technologies LLC grew its position in shares of Holley by 665.2% during the second quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock worth $471,000 after purchasing an additional 114,314 shares in the last quarter. Finally, Barclays PLC raised its stake in Holley by 288.3% during the 3rd quarter. Barclays PLC now owns 75,795 shares of the company’s stock valued at $224,000 after purchasing an additional 56,277 shares during the period. 39.70% of the stock is currently owned by institutional investors.

Holley Stock Performance

Shares of HLLY stock opened at $2.86 on Friday. The stock has a fifty day moving average of $2.79 and a 200 day moving average of $3.19. The firm has a market capitalization of $342.02 million, a price-to-earnings ratio of 21.96 and a beta of 1.47. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. Holley has a 52 week low of $2.29 and a 52 week high of $5.23.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $134.00 million during the quarter, compared to the consensus estimate of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. Holley’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 EPS. As a group, research analysts expect that Holley will post 0.12 earnings per share for the current year.

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.