Holley Inc. (NYSE:HLLY) Receives Consensus Rating of “Moderate Buy” from Analysts

Holley Inc. (NYSE:HLLY) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.6667.

Several research firms recently weighed in on HLLY. Telsey Advisory Group restated an “outperform” rating and set a $5.00 price target on shares of Holley in a report on Tuesday, February 24th. Canaccord Genuity Group boosted 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. DA Davidson increased their price target on Holley from $3.00 to $4.50 and gave the company a “neutral” rating in a research report on Monday, November 10th. Benchmark boosted 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, Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research note on Thursday, January 22nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners grew its position in shares of Holley by 59.2% during the 3rd quarter. Boston Partners now owns 7,652,545 shares of the company’s stock valued at $24,028,000 after acquiring an additional 2,845,009 shares during the period. Wasatch Advisors LP bought a new position in Holley during the third quarter valued at $18,762,000. Blue Owl Capital Holdings LP grew its holdings in Holley by 18.2% during the third quarter. Blue Owl Capital Holdings LP now owns 4,862,361 shares of the company’s stock valued at $15,268,000 after purchasing an additional 750,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Holley by 3.1% in the third quarter. Vanguard Group Inc. now owns 3,677,058 shares of the company’s stock valued at $11,546,000 after buying an additional 110,170 shares during the period. Finally, Advisory Research Inc. bought a new stake in shares of Holley in the third quarter valued at $7,065,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Holley Price Performance

HLLY opened at $3.95 on Wednesday. Holley has a 1 year low of $1.60 and a 1 year high of $4.48. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.78 and a quick ratio of 1.06. The company has a market capitalization of $476.01 million, a price-to-earnings ratio of -17.95 and a beta of 1.32. The firm’s fifty day moving average price is $4.14 and its two-hundred day moving average price is $3.76.

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.