Holley Inc. (NYSE:HLLY) Receives $7.47 Consensus Target Price from Analysts

Shares of Holley Inc. (NYSE:HLLY) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $7.47.

A number of research firms have issued reports on HLLY. JPMorgan Chase & Co. downgraded shares of Holley from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $6.50 to $5.00 in a report on Tuesday, February 20th. Telsey Advisory Group dropped their price objective on shares of Holley from $9.00 to $6.50 and set an “outperform” rating for the company in a report on Thursday, May 9th. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Holley in a report on Thursday, March 28th. Canaccord Genuity Group lowered their price objective on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Truist Financial reduced their target price on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 29th.

Insider Activity at Holley

In other Holley news, Director Graham Clempson bought 59,076 shares of Holley stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $4.18 per share, with a total value of $246,937.68. Following the completion of the acquisition, the director now directly owns 63,851 shares in the company, valued at approximately $266,897.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Holley

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in shares of Holley in the first quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Holley during the 3rd quarter valued at approximately $61,000. Arizona State Retirement System bought a new stake in Holley in the third quarter valued at $67,000. Tower Research Capital LLC TRC grew its holdings in shares of Holley by 410.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company’s stock worth $66,000 after acquiring an additional 10,867 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Holley in the 3rd quarter worth about $85,000. Institutional investors own 39.70% of the company’s stock.

Holley Stock Up 1.4 %

Shares of HLLY stock opened at $3.64 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 2.85 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $434.29 million, a price-to-earnings ratio of 22.75 and a beta of 1.53. The firm has a fifty day moving average of $4.15 and a 200-day moving average of $4.39. Holley has a 12-month low of $2.95 and a 12-month high of $8.06.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Holley had a return on equity of 4.32% and a net margin of 2.89%. The firm had revenue of $155.70 million during the quarter, compared to the consensus estimate of $153.26 million. During the same period last year, the company earned ($0.19) earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Holley will post 0.27 earnings per share for the current fiscal year.

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.