Holley (NYSE:HLLY) Stock Price Up 10.8% – What’s Next?

Holley Inc. (NYSE:HLLY) shot up 10.8% on Monday . The company traded as high as $3.02 and last traded at $3.0150. 501,415 shares were traded during trading, a decline of 41% from the average session volume of 842,825 shares. The stock had previously closed at $2.72.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HLLY. Telsey Advisory Group reiterated an “outperform” rating and issued a $5.00 price objective on shares of Holley in a report on Thursday, March 5th. DA Davidson set a $4.50 price objective on Holley in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group upped their target price on Holley from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Five investment 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 MarketBeat.com, Holley currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.67.

Holley Stock Performance

The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.96 and a current ratio of 2.75. The company has a market cap of $708.13 million, a PE ratio of 20.03 and a beta of 1.32. The business’s 50-day moving average is $3.88 and its 200 day moving average is $3.70.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). Holley had a net margin of 3.13% and a return on equity of 4.84%. The business had revenue of $155.44 million for the quarter, compared to analysts’ expectations of $142.76 million. On average, equities research analysts predict that Holley Inc. will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Holley

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC increased its stake in Holley by 8.1% in the 1st quarter. Empowered Funds LLC now owns 283,049 shares of the company’s stock worth $727,000 after purchasing an additional 21,121 shares during the period. Geode Capital Management LLC boosted its stake in shares of Holley by 9.0% during the second quarter. Geode Capital Management LLC now owns 1,320,321 shares of the company’s stock valued at $2,641,000 after purchasing an additional 108,964 shares during the period. Intech Investment Management LLC grew its holdings in shares of Holley by 16.3% in the second quarter. Intech Investment Management LLC now owns 36,550 shares of the company’s stock worth $73,000 after purchasing an additional 5,122 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Holley by 195.1% in the second quarter. JPMorgan Chase & Co. now owns 77,512 shares of the company’s stock worth $155,000 after buying an additional 51,247 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Holley by 145.6% in the second quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company’s stock worth $2,496,000 after buying an additional 739,912 shares during the period. 39.70% of the stock is currently owned by institutional investors.

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.