Holley Inc. (NYSE:HLLY) Receives $6.54 Average Target Price from Analysts

Holley Inc. (NYSE:HLLY) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $6.54.

Several research analysts recently issued reports on HLLY shares. Benchmark reaffirmed a “buy” rating and set a $12.00 target price on shares of Holley in a research report on Wednesday, September 4th. Canaccord Genuity Group lowered their target price on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial lowered their target price on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Raymond James lowered their target price on Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $5.50 target price on shares of Holley in a research report on Monday, September 9th.

Holley Stock Up 3.1 %

Shares of HLLY opened at $2.98 on Tuesday. Holley has a 52 week low of $2.89 and a 52 week high of $5.23. The stock has a market capitalization of $356.94 million, a price-to-earnings ratio of 18.63 and a beta of 1.44. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.19 and a current ratio of 2.80. The stock has a fifty day moving average of $3.29 and a 200-day moving average of $3.70.

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

Institutional Trading of Holley

A number of large investors have recently bought and sold shares of HLLY. Trexquant Investment LP grew its stake in shares of Holley by 7.2% in the 4th quarter. Trexquant Investment LP now owns 106,027 shares of the company’s stock valued at $516,000 after buying an additional 7,151 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Holley by 1.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,180,819 shares of the company’s stock valued at $18,646,000 after buying an additional 47,070 shares during the period. Norden Group LLC grew its stake in shares of Holley by 1,717.0% in the 1st quarter. Norden Group LLC now owns 616,196 shares of the company’s stock valued at $2,748,000 after buying an additional 582,283 shares during the period. SYSTM Wealth Solutions LLC acquired a new stake in shares of Holley in the 1st quarter valued at about $90,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Holley in the 1st quarter valued at about $937,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

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.