Holley Inc. (NYSE:HLLY) Receives $6.63 Average Price Target from Brokerages

Shares of Holley Inc. (NYSE:HLLY) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.63.

Separately, Telsey Advisory Group lowered their price target on Holley from $5.50 to $4.50 and set an “outperform” rating on the stock in a report on Monday, November 11th.

Holley Price Performance

NYSE HLLY opened at $3.05 on Thursday. 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 $365.38 million, a PE ratio of 23.46 and a beta of 1.47. Holley has a 12-month low of $2.29 and a 12-month high of $5.23. The company has a 50 day moving average price of $2.81 and a two-hundred day moving average price of $3.10.

Holley (NYSE:HLLY) last posted its earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The business had revenue of $134.00 million for the quarter, compared to analyst estimates of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. As a group, equities analysts predict that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Holley

In other news, Director David S. Lobel sold 1,743,356 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. This trade represents a 4.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Holley

Several large investors have recently modified their holdings of HLLY. JPMorgan Chase & Co. grew its holdings in shares of Holley by 102.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock worth $424,000 after purchasing an additional 72,641 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Holley in the third quarter valued at approximately $54,000. Barclays PLC boosted its holdings in shares of 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. Geode Capital Management LLC increased its holdings in Holley by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock valued at $3,357,000 after purchasing an additional 55,641 shares in the last quarter. Finally, Zacks Investment Management raised its position in Holley by 69.5% in the 3rd quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock valued at $58,000 after purchasing an additional 8,061 shares during the last quarter. 39.70% of the stock is currently owned by 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.