Holley (NYSE:HLLY) Given Outperform Rating at Telsey Advisory Group

Holley (NYSE:HLLY)‘s stock had its “outperform” rating reaffirmed by investment analysts at Telsey Advisory Group in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $5.00 price objective on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 18.06% from the stock’s current price.

Several other research firms have also weighed in on HLLY. Weiss Ratings reiterated a “sell (d)” rating on shares of Holley in a report on Thursday, January 22nd. Canaccord Genuity Group lifted their price target on shares of Holley from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. DA Davidson increased their price objective on Holley from $3.00 to $4.50 and gave the stock a “neutral” rating in a research report on Monday, November 10th. Finally, Benchmark raised their target price on Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Monday, November 10th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Holley presently has an average rating of “Moderate Buy” and an average price target of $4.67.

Holley Trading Up 0.8%

Shares of HLLY stock traded up $0.04 on Tuesday, hitting $4.24. 21,852 shares of the stock traded hands, compared to its average volume of 732,965. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.06 and a current ratio of 2.78. Holley has a twelve month low of $1.60 and a twelve month high of $4.48. The firm’s 50-day moving average price is $4.14 and its two-hundred day moving average price is $3.73. The stock has a market capitalization of $510.36 million, a PE ratio of -19.20 and a beta of 1.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sonoma Allocations LLC acquired a new position in shares of Holley during the fourth quarter worth about $120,000. Invesco Ltd. lifted its stake in Holley by 18.1% in the fourth quarter. Invesco Ltd. now owns 120,172 shares of the company’s stock worth $496,000 after acquiring an additional 18,440 shares during the last quarter. Empowered Funds LLC increased its position in shares of Holley by 44.3% in the 4th quarter. Empowered Funds LLC now owns 505,929 shares of the company’s stock valued at $2,089,000 after purchasing an additional 155,208 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Holley during the 4th quarter worth $102,000. Finally, Bridgeway Capital Management LLC lifted its holdings in Holley by 31.0% during the 4th 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. 39.70% of the stock is owned by institutional investors and hedge funds.

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.