Holley (NYSE:HLLY) Earns Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of Holley (NYSE:HLLY) in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a $12.00 price target on the stock.

Several other analysts have also recently issued reports on HLLY. Telsey Advisory Group reissued an outperform rating and set a $6.50 price target on shares of Holley in a research report on Tuesday, June 4th. Truist Financial reduced their price target on shares of Holley from $9.00 to $8.00 and set a buy rating on the stock in a research report on Thursday, February 29th. Canaccord Genuity Group reduced their target price on shares of Holley from $9.00 to $8.00 and set a buy rating on the stock in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. cut shares of Holley from an overweight rating to a neutral rating and reduced their target price for the company from $6.50 to $5.00 in a report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Holley has a consensus rating of Moderate Buy and an average price target of $7.47.

Holley Stock Up 3.2 %

Shares of HLLY opened at $3.36 on Tuesday. The stock has a market capitalization of $400.29 million, a PE ratio of 20.97 and a beta of 1.49. Holley has a 1 year low of $3.16 and a 1 year high of $8.06. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.04 and a current ratio of 2.85. The company’s 50-day simple moving average is $3.88 and its 200-day simple moving average is $4.34.

Insider Buying and Selling at Holley

In related news, Chairman Matthew E. Rubel purchased 14,493 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were bought at an average cost of $3.39 per share, for a total transaction of $49,131.27. Following the completion of the purchase, the chairman now directly owns 169,979 shares of the company’s stock, valued at approximately $576,228.81. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Holley

A number of hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC purchased a new position in shares of Holley during the first quarter worth approximately $43,000. Sei Investments Co. lifted its holdings in shares of Holley by 1.3% during the first quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock worth $1,801,000 after purchasing an additional 5,000 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Holley during the first quarter worth $937,000. Norden Group LLC lifted its holdings in shares of Holley by 28.8% during the first quarter. Norden Group LLC now owns 43,694 shares of the company’s stock worth $195,000 after purchasing an additional 9,781 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Holley by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,180,819 shares of the company’s stock worth $18,646,000 after purchasing an additional 47,070 shares during the period. 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.