Holley (NYSE:HLLY) Rating Reiterated by Telsey Advisory Group

Holley (NYSE:HLLY)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued on Monday, Benzinga reports. They presently have a $5.50 price target on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 76.28% from the company’s previous close.

A number of other brokerages also recently issued reports on HLLY. Benchmark reiterated a “buy” rating and set a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Truist Financial dropped their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group reduced their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Raymond James dropped their target price on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.54.

Holley Stock Down 0.6 %

Holley stock opened at $3.12 on Monday. Holley has a 52 week low of $2.94 and a 52 week high of $5.67. The firm has a market cap of $372.25 million, a price-to-earnings ratio of 19.50 and a beta of 1.44. The business’s 50-day moving average price is $3.41 and its 200 day moving average price is $3.78. The company has a quick ratio of 1.19, a current ratio of 2.80 and a debt-to-equity ratio of 1.18.

Holley (NYSE:HLLY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. Holley had a net margin of 3.56% and a return on equity of 3.51%. The business had revenue of $169.50 million for the quarter, compared to analysts’ expectations of $170.40 million. During the same quarter last year, the company earned $0.14 EPS. The business’s revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Holley will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Holley

A number of large investors have recently modified their holdings of HLLY. Vanguard Personalized Indexing Management LLC purchased a new stake in Holley during the 2nd quarter valued at about $42,000. Lazard Asset Management LLC acquired a new stake in shares of Holley in the first quarter valued at approximately $43,000. Algert Global LLC increased its holdings in shares of Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock valued at $74,000 after purchasing an additional 4,924 shares during the last quarter. SYSTM Wealth Solutions LLC purchased a new position in Holley during the first quarter worth approximately $90,000. Finally, Norden Group LLC boosted its stake in 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 buying an additional 9,781 shares during the last quarter. Hedge funds and other institutional investors 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.