Holley (NYSE:HLLY) Raised to “Strong-Buy” at Freedom Broker

Holley (NYSE:HLLY) was upgraded by stock analysts at Freedom Broker from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks reports.

Several other brokerages have also recently issued reports on HLLY. Freedom Capital cut shares of Holley from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. DA Davidson set a $3.00 target price on shares of Holley in a report on Friday, November 6th. Canaccord Genuity Group decreased their target price on Holley from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a report on Tuesday, November 3rd. Finally, Telsey Advisory Group reduced their target price on shares of Holley from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Holley Trading Down 4.0%

Shares of HLLY stock opened at $2.50 on Tuesday. The stock has a market capitalization of $303.69 million, a PE ratio of 16.70 and a beta of 1.44. Holley has a 1-year low of $2.05 and a 1-year high of $4.48. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.04 and a quick ratio of 1.23. The business has a 50-day moving average of $2.57 and a 200 day moving average of $2.95.

Holley (NYSE:HLLY) last issued its earnings results on Thursday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $141.56 million during the quarter, compared to the consensus estimate of $145.80 million. Holley had a return on equity of 9.28% and a net margin of 3.07%. As a group, sell-side analysts anticipate that Holley will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Holley

A number of institutional investors have recently added to or reduced their stakes in HLLY. BlackRock Inc. purchased a new position in Holley in the second quarter worth $14,361,000. Blue Owl Capital Holdings LP acquired a new position in Holley during the second quarter valued at $11,161,000. Bamco Inc. NY purchased a new stake in shares of Holley in the second quarter worth about $8,288,000. Bank of America Corp DE acquired a new stake in shares of Holley during the 2nd quarter worth approximately $4,638,000. Finally, Wasatch Advisors LP increased its holdings in Holley by 35.1% in the second quarter. Wasatch Advisors LP now owns 4,887,038 shares of the company’s stock valued at $12,462,000 after buying an additional 1,269,256 shares in the last quarter. Institutional investors own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc. designs, manufactures and markets performance parts and accessories for the automotive aftermarket. Its products serve enthusiasts and racers who modify, restore or compete with vehicles, including classic cars and modern performance vehicles. The company’s offerings include fuel and electronic fuel-injection systems, carburetors, ignition and engine components, intake and exhaust products, transmission and chassis parts, and automotive safety equipment. Its portfolio includes brands such as Holley, MSD, Flowmaster, Hooker, B&M and Simpson.