Holley Inc. (NYSE:HLLY) Receives $6.39 Average Price Target from Brokerages

Shares of Holley Inc. (NYSE:HLLY) have been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $6.63.

Several research firms have recently weighed in on HLLY. Canaccord Genuity Group decreased their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Truist Financial cut their price target on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Telsey Advisory Group reduced their price objective on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Monday, November 11th. Finally, Raymond James reduced their price target on Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a research report on Thursday, August 8th.

Institutional Trading of Holley

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

Holley Trading Up 2.2 %

Shares of NYSE HLLY opened at $2.76 on Wednesday. Holley has a 1 year low of $2.29 and a 1 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 1.19. The firm has a 50-day moving average of $2.89 and a 200 day moving average of $3.33. The stock has a market cap of $330.58 million, a P/E ratio of 21.23 and a beta of 1.45.

Holley (NYSE:HLLY) last released 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 company had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The company’s revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. As a group, sell-side analysts expect that Holley will post 0.14 EPS for the current fiscal 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.