Holley Inc. (NYSE:HLLY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Holley Inc. (NYSE:HLLY) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.63.

Separately, Telsey Advisory Group reduced their price objective on shares of Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Monday, November 11th.

Insider Buying and Selling at Holley

In other news, Director David S. Lobel sold 1,743,356 shares of Holley stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $3.00, for a total value of $5,230,068.00. Following the sale, the director now directly owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. The trade was a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Holley

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Holley by 102.1% during the third quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock valued at $424,000 after purchasing an additional 72,641 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Holley during the 3rd quarter valued at about $54,000. Barclays PLC raised its position in shares of Holley by 288.3% during the 3rd quarter. Barclays PLC now owns 75,795 shares of the company’s stock valued at $224,000 after buying an additional 56,277 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Holley by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock valued at $3,357,000 after acquiring an additional 55,641 shares during the last quarter. Finally, Zacks Investment Management grew its position in Holley by 69.5% in the third quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock worth $58,000 after acquiring an additional 8,061 shares in the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Price Performance

NYSE HLLY opened at $3.03 on Thursday. Holley has a 52 week low of $2.29 and a 52 week high of $5.23. The company has a 50-day moving average price of $2.82 and a 200-day moving average price of $3.10. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $362.98 million, a P/E ratio of 23.31 and a beta of 1.42.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $142.53 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. Equities research analysts anticipate that Holley will post 0.12 earnings per share for the current year.

About Holley

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners, automotive performance plumbing products; and exhaust products, as well as shifters, converters, transmission kits, transmissions, tuners, and automotive software.