Holley Inc. (NYSE:HLLY) Receives $6.63 Average Target Price from Analysts

Shares of Holley Inc. (NYSE:HLLY) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.63.

Separately, Telsey Advisory Group lowered their price objective on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Monday, November 11th.

Insider Buying and Selling at Holley

In other news, Director David S. Lobel sold 1,743,356 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the sale, the director now directly owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. This represents a 4.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Holley

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Holley by 6.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company’s stock worth $30,117,000 after acquiring an additional 618,449 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Holley by 52.3% during the second quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after buying an additional 334,940 shares in the last quarter. Renaissance Technologies LLC grew its stake in Holley by 665.2% during the 2nd quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock valued at $471,000 after acquiring an additional 114,314 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Holley by 102.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock valued at $424,000 after purchasing an additional 72,641 shares during the period. Finally, Barclays PLC boosted its stake in shares of 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 buying an additional 56,277 shares during the period. 39.70% of the stock is owned by institutional investors.

Holley Price Performance

NYSE:HLLY opened at $3.05 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. Holley has a one year low of $2.29 and a one year high of $5.23. The stock has a 50 day moving average price of $2.81 and a 200 day moving average price of $3.10. The stock has a market cap of $365.38 million, a PE ratio of 23.46 and a beta of 1.47.

Holley (NYSE:HLLY) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. During the same period in the prior year, the company posted $0.03 EPS. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. Equities research analysts expect that Holley will post 0.12 EPS for the current fiscal year.

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.