Holley (NYSE:HLLY) Given New $4.00 Price Target at Telsey Advisory Group

Holley (NYSE:HLLY) had its price objective decreased by Telsey Advisory Group from $5.00 to $4.00 in a report released on Friday morning,Benzinga reports. Telsey Advisory Group currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on HLLY. DA Davidson set a $3.00 price target on Holley in a report on Friday. Freedom Capital downgraded Holley from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Zacks Research downgraded Holley from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Canaccord Genuity Group cut their target price on Holley from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Wall Street Zen cut Holley from a “buy” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.00.

Holley Price Performance

Holley stock opened at $2.08 on Friday. The stock has a market cap of $252.77 million, a P/E ratio of 13.90 and a beta of 1.44. The company has a fifty day simple moving average of $2.59 and a 200-day simple moving average of $2.97. Holley has a 12-month low of $2.05 and a 12-month high of $4.48. The company has a current ratio of 3.04, a quick ratio of 1.23 and a debt-to-equity ratio of 1.07.

Holley (NYSE:HLLY) last issued its earnings results on Thursday, November 5th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $141.56 million for the quarter, compared to analyst estimates of $145.80 million. Holley had a return on equity of 9.28% and a net margin of 3.07%. Equities analysts expect that Holley will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Holley

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HLLY. Chicago Partners Investment Group LLC acquired a new stake in shares of Holley in the first quarter valued at approximately $35,000. Williams & Novak Wealth Management LLC acquired a new position in shares of Holley in the 3rd quarter valued at $25,000. The Manufacturers Life Insurance Company acquired a new position in shares of Holley in the 2nd quarter valued at $52,000. GSA Capital Partners LLP acquired a new position in shares of Holley in the 2nd quarter valued at $98,000. Finally, Ritholtz Wealth Management purchased a new stake in Holley in the 3rd quarter valued at $96,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc is an automotive aftermarket company that designs, manufactures and distributes performance products for cars, trucks, powersports vehicles and other enthusiast applications. Its offerings include fuel systems, engine and ignition components, exhaust products, suspension and driveline components, electronic controls, vehicle accessories and safety equipment.

The company serves do-it-yourself consumers, professional installers, racing teams, automotive enthusiasts and original equipment manufacturers through a portfolio of established aftermarket brands.