Canaccord Genuity Group Issues Positive Forecast for Holley (NYSE:HLLY) Stock Price

Holley (NYSE:HLLY) had its price target lifted by equities research analysts at Canaccord Genuity Group from $6.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 92.84% from the stock’s previous close.

Other analysts have also issued reports about the stock. DA Davidson increased their price target on shares of Holley from $3.00 to $4.50 and gave the company a “neutral” rating in a research report on Monday. Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Telsey Advisory Group lifted their price target on shares of Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James Financial lifted their price target on Holley from $2.25 to $3.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Benchmark increased their price objective on shares of Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Monday. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Holley has an average rating of “Moderate Buy” and a consensus target price of $4.50.

Holley Price Performance

HLLY stock traded up $0.01 during trading on Monday, reaching $3.63. 2,205,562 shares of the company were exchanged, compared to its average volume of 689,281. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 2.93. The stock’s 50 day moving average price is $3.17 and its 200 day moving average price is $2.67. Holley has a 52-week low of $1.60 and a 52-week high of $4.09. The company has a market cap of $437.42 million, a P/E ratio of -16.50 and a beta of 1.36.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $138.37 million for the quarter, compared to analyst estimates of $132.36 million. Holley had a negative net margin of 4.16% and a positive return on equity of 6.80%. Holley has set its FY 2025 guidance at EPS. As a group, analysts predict that Holley will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David S. Lobel sold 14,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $2.63, for a total transaction of $36,820,000.00. Following the completion of the sale, the director directly owned 26,754,834 shares in the company, valued at $70,365,213.42. This trade represents a 34.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Holley

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Holley by 16.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock valued at $65,000 after buying an additional 4,661 shares during the period. Intech Investment Management LLC raised its position in shares of Holley by 16.3% in the second quarter. Intech Investment Management LLC now owns 36,550 shares of the company’s stock valued at $73,000 after purchasing an additional 5,122 shares during the period. First Trust Advisors LP lifted its stake in shares of Holley by 3.7% in the second quarter. First Trust Advisors LP now owns 184,531 shares of the company’s stock worth $369,000 after buying an additional 6,594 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Holley by 10.0% in the second quarter. American Century Companies Inc. now owns 118,727 shares of the company’s stock worth $237,000 after buying an additional 10,767 shares during the last quarter. Finally, Brevan Howard Capital Management LP boosted its holdings in shares of Holley by 103.4% during the 2nd quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company’s stock worth $45,000 after buying an additional 11,494 shares during the period. 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.