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

Shares of Holley Inc. (NYSE:HLLY) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.90.

HLLY has been the topic of several research reports. Raymond James Financial set a $4.00 price target on shares of Holley in a research report on Thursday, May 7th. DA Davidson set a $4.50 price target on shares of Holley in a research report on Thursday, March 5th. Canaccord Genuity Group reduced their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $5.00 price target on shares of Holley in a research report on Thursday, March 5th. Finally, Wall Street Zen downgraded shares of Holley from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new position in Holley during the 4th quarter valued at about $35,000. Chicago Partners Investment Group LLC acquired a new position in Holley during the 1st quarter valued at about $35,000. Schonfeld Strategic Advisors LLC acquired a new position in Holley during the 3rd quarter valued at about $34,000. Sherbrooke Park Advisers LLC acquired a new position in Holley during the 3rd quarter valued at about $38,000. Finally, Cerity Partners LLC acquired a new position in Holley during the 2nd quarter valued at about $25,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Stock Up 0.8%

HLLY opened at $2.61 on Friday. The firm’s 50-day simple moving average is $2.92 and its 200-day simple moving average is $3.58. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.07 and a current ratio of 3.17. Holley has a twelve month low of $1.92 and a twelve month high of $4.48. The firm has a market cap of $317.25 million, a price-to-earnings ratio of 13.75 and a beta of 1.32.

Holley (NYSE:HLLY) last posted its earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $147.33 million for the quarter, compared to analyst estimates of $152.06 million. Holley had a net margin of 3.89% and a return on equity of 5.46%. Equities research analysts anticipate that Holley will post 0.3 EPS for the current fiscal year.

Holley declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 26th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

About Holley

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.