Holley (NYSE:HLLY) Stock Price Expected to Rise, Raymond James Analyst Says

Holley (NYSE:HLLY) had its price target upped by investment analysts at Raymond James from $3.00 to $3.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 44.33% from the stock’s current price.

Separately, Telsey Advisory Group restated an “outperform” rating and set a $4.50 price target on shares of Holley in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $6.80.

Holley Trading Down 1.0 %

NYSE:HLLY opened at $2.43 on Wednesday. Holley has a 52 week low of $2.29 and a 52 week high of $4.58. The firm has a 50 day moving average of $2.88 and a 200 day moving average of $2.90. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $290.51 million, a price-to-earnings ratio of 18.65 and a beta of 1.44.

Holley (NYSE:HLLY) last posted its earnings results on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. Holley had a net margin of 2.55% and a return on equity of 2.59%. The company had revenue of $140.05 million during the quarter, compared to analysts’ expectations of $137.60 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Holley’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Holley

In other Holley 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 transaction of $5,230,068.00. Following the transaction, the director now owns 41,556,961 shares in the company, valued at approximately $124,670,883. This represents a 4.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.92% of the stock is currently owned by company insiders.

Institutional Trading of Holley

A number of hedge funds and other institutional investors have recently made changes to their positions in HLLY. Boston Partners acquired a new stake in shares of Holley in the fourth quarter worth $4,746,000. Bamco Inc. NY increased its stake in shares of Holley by 33.3% in the fourth quarter. Bamco Inc. NY now owns 4,000,000 shares of the company’s stock worth $12,080,000 after acquiring an additional 1,000,000 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Holley by 12,719.0% in the fourth quarter. Russell Investments Group Ltd. now owns 819,136 shares of the company’s stock worth $2,474,000 after acquiring an additional 812,746 shares during the period. Mink Brook Asset Management LLC acquired a new stake in shares of Holley in the fourth quarter worth $1,666,000. Finally, Blue Owl Capital Holdings LP increased its stake in shares of Holley by 17.3% in the fourth quarter. Blue Owl Capital Holdings LP now owns 2,990,294 shares of the company’s stock worth $9,031,000 after acquiring an additional 440,040 shares during the period. Institutional investors and hedge funds own 39.70% of the company’s stock.

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.