Holley’s (HLLY) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Holley (NYSE:HLLY) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $4.50 price target on the stock.

Holley Stock Down 1.3 %

Shares of Holley stock opened at $2.98 on Wednesday. Holley has a twelve month low of $2.29 and a twelve month high of $5.23. The stock has a market cap of $357.00 million, a price-to-earnings ratio of 22.92 and a beta of 1.42. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The company has a fifty day moving average price of $2.83 and a 200 day moving average price of $3.09.

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

Insider Transactions at Holley

In related news, Director David S. Lobel sold 1,743,356 shares of the business’s 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 transaction, the director now owns 41,556,961 shares in the company, valued at approximately $124,670,883. The trade was a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Holley

Several hedge funds and other institutional investors have recently bought and sold shares of HLLY. Verition Fund Management LLC acquired a new stake in shares of Holley in the 3rd quarter valued at about $35,000. Intech Investment Management LLC bought a new stake in Holley in the third quarter valued at about $41,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Holley during the second quarter valued at approximately $42,000. SG Americas Securities LLC bought a new position in Holley during the 3rd quarter worth approximately $52,000. Finally, Virtu Financial LLC acquired a new position in shares of Holley in the 3rd quarter worth approximately $54,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

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.