Holley Inc. (NYSE:HLLY) Receives $6.63 Consensus PT from Analysts

Holley Inc. (NYSE:HLLY) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.63.

Separately, Telsey Advisory Group reiterated an “outperform” rating and set a $4.50 price target on shares of Holley in a report on Wednesday, January 8th.

Holley Trading Down 3.7 %

NYSE:HLLY opened at $3.03 on Monday. The stock’s 50 day moving average price is $2.93 and its 200 day moving average price is $3.05. Holley has a 52 week low of $2.29 and a 52 week high of $5.23. The company has a market capitalization of $362.40 million, a P/E ratio of 23.27 and a beta of 1.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93.

Holley (NYSE:HLLY) last released its quarterly earnings data 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 analyst estimates of $142.53 million. During the same quarter in the prior year, the company posted $0.03 EPS. The company’s quarterly revenue was down 14.4% on a year-over-year basis. On average, research analysts forecast that Holley will post 0.12 EPS for the current fiscal year.

Insider Activity

In other news, Director David S. Lobel sold 1,743,356 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the sale, the director now directly owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. This represents a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in Holley by 25.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company’s stock worth $48,000 after purchasing an additional 3,210 shares during the period. Squarepoint Ops LLC lifted its position in Holley by 3.3% in the second quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock worth $490,000 after purchasing an additional 4,413 shares during the period. Algert Global LLC lifted its position in Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after purchasing an additional 4,924 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Holley by 39.8% during the fourth quarter. SG Americas Securities LLC now owns 24,590 shares of the company’s stock valued at $74,000 after acquiring an additional 7,002 shares during the period. Finally, Zacks Investment Management lifted its holdings in shares of Holley by 69.5% during the third quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock valued at $58,000 after acquiring an additional 8,061 shares during the period. 39.70% of the stock is 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.