Holley (NYSE:HLLY) Price Target Raised to $4.50 at Benchmark

Holley (NYSE:HLLY) had its target price hoisted by equities researchers at Benchmark from $4.00 to $4.50 in a report issued on Monday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 16.43% from the stock’s current price.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group raised their target price on Holley from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Wall Street Zen raised Holley from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research report on Wednesday, October 8th. Raymond James Financial boosted their target price on shares of Holley from $2.25 to $3.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Telsey Advisory Group increased their price objective on Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a report on Friday. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.30.

Holley Stock Up 6.8%

NYSE HLLY traded up $0.25 during mid-day trading on Monday, hitting $3.87. The company’s stock had a trading volume of 1,041,764 shares, compared to its average volume of 684,935. The firm has a market capitalization of $465.73 million, a price-to-earnings ratio of -17.52 and a beta of 1.36. The company’s 50 day simple moving average is $3.17 and its 200 day simple moving average is $2.67. The company has a current ratio of 2.93, a quick ratio of 1.18 and a debt-to-equity ratio of 1.24. Holley has a twelve month low of $1.60 and a twelve month high of $4.09.

Holley (NYSE:HLLY) last released its quarterly earnings data on Friday, November 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $138.37 million during the quarter, compared to the consensus estimate 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. Analysts anticipate that Holley will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Holley

In related news, Director David S. Lobel sold 14,000,000 shares of Holley stock in a transaction on 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 owned 26,754,834 shares of the company’s stock, valued at approximately $70,365,213.42. This trade represents a 34.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Holley

A number of hedge funds and other institutional investors have recently bought and sold shares of HLLY. GSA Capital Partners LLP grew its position in Holley by 12.8% in the third quarter. GSA Capital Partners LLP now owns 336,090 shares of the company’s stock worth $1,055,000 after acquiring an additional 38,010 shares in the last quarter. Vanguard Group Inc. lifted its stake in Holley by 3.1% during the third quarter. Vanguard Group Inc. now owns 3,677,058 shares of the company’s stock worth $11,546,000 after purchasing an additional 110,170 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Holley by 143.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 189,054 shares of the company’s stock worth $594,000 after purchasing an additional 111,542 shares in the last quarter. Bailard Inc. bought a new position in shares of Holley during the 3rd quarter valued at about $271,000. Finally, Captrust Financial Advisors purchased a new position in shares of Holley during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

About Holley

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.