Benchmark Downgrades Holley (NYSE:HLLY) to Hold

Holley (NYSE:HLLY) was downgraded by analysts at Benchmark from a “buy” rating to a “hold” rating in a report issued on Friday, Marketbeat Ratings reports. They presently have a $5.00 target price on the stock. Benchmark’s price objective would indicate a potential upside of 162.47% from the stock’s current price.

HLLY has been the subject of several other reports. Truist Financial decreased their price objective on shares of Holley from $5.00 to $3.00 and set a “buy” rating for the company in a report on Monday, April 14th. Canaccord Genuity Group decreased their target price on shares of Holley from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday. Telsey Advisory Group dropped their price target on Holley from $4.50 to $2.75 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Raymond James upped their price objective on Holley from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $3.85.

Holley Stock Performance

HLLY stock opened at $1.91 on Friday. The stock has a market capitalization of $228.52 million, a PE ratio of 14.65 and a beta of 1.43. The stock’s 50 day simple moving average is $2.32 and its 200 day simple moving average is $2.68. Holley has a 12-month low of $1.60 and a 12-month high of $4.08. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20.

Holley (NYSE:HLLY) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $153.04 million for the quarter, compared to analysts’ expectations of $148.52 million. As a group, research analysts forecast that Holley will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Holley

Several hedge funds and other institutional investors have recently modified their holdings of HLLY. Barclays PLC lifted its position in Holley by 288.3% during the third quarter. Barclays PLC now owns 75,795 shares of the company’s stock valued at $224,000 after purchasing an additional 56,277 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Holley during the 3rd quarter valued at about $54,000. JPMorgan Chase & Co. grew its stake in shares of Holley by 102.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock valued at $424,000 after acquiring an additional 72,641 shares during the period. SG Americas Securities LLC grew its stake in shares of Holley by 39.8% during the 4th quarter. SG Americas Securities LLC now owns 24,590 shares of the company’s stock valued at $74,000 after acquiring an additional 7,002 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in Holley by 25.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company’s stock worth $48,000 after acquiring an additional 3,210 shares in the last quarter. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Holley Company Profile

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.