Brokerages Set Holley Inc. (NYSE:HLLY) Target Price at $6.63

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

A number of equities analysts have commented on the stock. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Holley in a research note on Wednesday, September 4th. Telsey Advisory Group dropped their price target on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Monday, November 11th.

Holley Stock Up 3.4 %

Shares of HLLY stock opened at $2.86 on Friday. The company’s fifty day simple moving average is $2.79 and its two-hundred day simple moving average is $3.19. Holley has a 52 week low of $2.29 and a 52 week high of $5.23. The stock has a market cap of $342.02 million, a P/E ratio of 21.96 and a beta of 1.47. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20.

Holley (NYSE:HLLY) last posted 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). Holley had a return on equity of 2.59% and a net margin of 2.55%. The firm had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Holley’s quarterly revenue was down 14.4% on a year-over-year basis. Analysts predict that Holley will post 0.12 EPS for the current fiscal year.

Institutional Trading of Holley

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted 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 purchasing an additional 5,409,997 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Holley by 52.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after buying an additional 334,940 shares in the last quarter. Skylands Capital LLC boosted its position in Holley by 37.6% in the 2nd quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock valued at $4,023,000 after buying an additional 306,874 shares during the period. Renaissance Technologies LLC grew its stake in Holley by 665.2% in the 2nd quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock worth $471,000 after acquiring an additional 114,314 shares in the last quarter. Finally, Barclays PLC grew its stake in Holley by 288.3% in the 3rd quarter. Barclays PLC now owns 75,795 shares of the company’s stock worth $224,000 after acquiring an additional 56,277 shares in 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.