Holley (NYSE:HLLY) Hits New 12-Month High – Here’s Why

Holley Inc. (NYSE:HLLY)’s share price hit a new 52-week high on Wednesday . The company traded as high as $4.45 and last traded at $4.3450, with a volume of 1316083 shares changing hands. The stock had previously closed at $4.15.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group set a $8.00 price objective on shares of Holley in a report on Wednesday. Telsey Advisory Group boosted their price target on Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Holley in a report on Thursday, January 22nd. Benchmark raised their price objective on Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, DA Davidson boosted their price objective on Holley from $3.00 to $4.50 and gave the company a “neutral” rating in a research report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.67.

Holley Stock Performance

The company has a current ratio of 2.78, a quick ratio of 1.06 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $526.03 million, a price-to-earnings ratio of -19.84 and a beta of 1.32. The stock has a fifty day moving average price of $4.14 and a 200-day moving average price of $3.68.

Institutional Investors Weigh In On Holley

Institutional investors and hedge funds have recently made changes to their positions in the company. Balyasny Asset Management L.P. acquired a new stake in shares of Holley during the 4th quarter worth about $102,000. Bridgeway Capital Management LLC grew its stake in Holley by 31.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 913,229 shares of the company’s stock worth $3,772,000 after buying an additional 216,208 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Holley by 60.1% during the fourth quarter. AQR Capital Management LLC now owns 238,136 shares of the company’s stock worth $984,000 after buying an additional 89,394 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Holley by 16.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,615 shares of the company’s stock worth $143,000 after buying an additional 4,767 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of Holley by 149.8% in the fourth quarter. State of Wisconsin Investment Board now owns 145,638 shares of the company’s stock valued at $601,000 after acquiring an additional 87,338 shares during the last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.