Holley Inc. (NYSE:HLLY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Holley Inc. (NYSE:HLLY) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.63.

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 price objective on shares of Holley in a research note on Wednesday, January 8th.

Holley Trading Up 0.5 %

NYSE HLLY opened at $3.15 on Monday. Holley has a one year low of $2.29 and a one year high of $5.23. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. The business has a 50 day simple moving average of $2.90 and a 200 day simple moving average of $3.05. The stock has a market capitalization of $376.77 million, a P/E ratio of 24.19 and a beta of 1.42.

Holley (NYSE:HLLY) last issued its 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). The firm had revenue of $134.00 million during the quarter, compared to the consensus estimate of $142.53 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The business’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. Research analysts expect that Holley will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David S. Lobel sold 1,743,356 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was 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 owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. The trade was a 4.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.92% of the stock is owned by insiders.

Institutional Trading of Holley

Institutional investors have recently modified their holdings of the company. Cottonwood Capital Advisors LLC purchased a new position in shares of Holley during the 4th quarter worth approximately $32,000. Vanguard Personalized Indexing Management LLC bought a new position in Holley in the second quarter worth $42,000. Verition Fund Management LLC purchased a new position in Holley during the third quarter valued at $35,000. Intech Investment Management LLC bought a new stake in shares of Holley during the 3rd quarter valued at $41,000. Finally, Williams & Novak LLC purchased a new stake in shares of Holley in the 4th quarter worth about $44,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

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.