Holley Inc. (NYSE:HLLY) Receives $4.50 Consensus Price Target from Brokerages

Shares of Holley Inc. (NYSE:HLLY) have been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $4.50.

HLLY has been the subject of several recent research reports. Telsey Advisory Group lifted their price target on Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Canaccord Genuity Group lifted their target price on Holley from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Benchmark boosted their target price on Holley from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Monday, November 10th. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a report on Wednesday, October 8th. Finally, DA Davidson lifted their price objective on shares of Holley from $3.00 to $4.50 and gave the stock a “neutral” rating in a research note on Monday, November 10th.

Holley Trading Down 0.1%

Shares of HLLY opened at $4.23 on Friday. The stock has a market capitalization of $509.15 million, a PE ratio of -19.20 and a beta of 1.30. The company’s fifty day moving average is $3.51 and its 200 day moving average is $3.02. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.06 and a current ratio of 2.78. Holley has a fifty-two week low of $1.60 and a fifty-two week high of $4.43.

Holley (NYSE:HLLY) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Holley had a positive return on equity of 6.75% and a negative net margin of 4.16%.The business had revenue of $138.37 million during the quarter, compared to analysts’ expectations of $132.36 million. Sell-side analysts expect that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Activity at Holley

In related news, Director David S. Lobel sold 2,100,000 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $2.63, for a total transaction of $5,523,000.00. Following the transaction, the director directly owned 24,654,834 shares in the company, valued at approximately $64,842,213.42. This represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Cerity Partners LLC purchased a new stake in shares of Holley in the second quarter worth approximately $25,000. Schonfeld Strategic Advisors LLC bought a new position in Holley in the 3rd quarter valued at $34,000. Sherbrooke Park Advisers LLC bought a new position in Holley in the 3rd quarter valued at $38,000. Captrust Financial Advisors purchased a new stake in Holley in the second quarter worth $44,000. Finally, Brevan Howard Capital Management LP lifted its position in shares of Holley by 103.4% during the second quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company’s stock worth $45,000 after purchasing an additional 11,494 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

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.