Telsey Advisory Group Has Lowered Expectations for Holley (NYSE:HLLY) Stock Price

Holley (NYSE:HLLY) had its target price decreased by analysts at Telsey Advisory Group from $5.00 to $4.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Telsey Advisory Group‘s price objective indicates a potential upside of 91.85% from the company’s current price.

Several other brokerages also recently issued reports on HLLY. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research report on Tuesday, November 3rd. Zacks Research cut Holley from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Wall Street Zen downgraded shares of Holley from a “buy” rating to a “hold” rating in a research note on Saturday. DA Davidson set a $3.00 target price on shares of Holley in a report on Friday. Finally, Freedom Capital lowered shares of Holley from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Holley presently has a consensus rating of “Hold” and a consensus target price of $4.00.

Holley Trading Down 0.7%

Shares of Holley stock opened at $2.08 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.04 and a quick ratio of 1.23. Holley has a 1 year low of $2.05 and a 1 year high of $4.48. The company has a market capitalization of $252.77 million, a P/E ratio of 13.90 and a beta of 1.44. The business has a 50 day moving average price of $2.59 and a 200 day moving average price of $2.97.

Holley (NYSE:HLLY) last announced 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 company had revenue of $141.56 million for the quarter, compared to analyst estimates of $145.80 million. Holley had a net margin of 3.07% and a return on equity of 9.28%. Sell-side analysts anticipate that Holley will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Holley

Several institutional investors have recently added to or reduced their stakes in HLLY. Williams & Novak Wealth Management LLC purchased a new position in shares of Holley during the 3rd quarter worth about $25,000. Chicago Partners Investment Group LLC purchased a new stake in Holley during the first quarter valued at about $35,000. The Manufacturers Life Insurance Company purchased a new stake in Holley during the second quarter valued at about $52,000. Ritholtz Wealth Management acquired a new stake in Holley during the third quarter worth about $96,000. Finally, GSA Capital Partners LLP acquired a new stake in Holley during the second quarter worth about $98,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

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.