Brokerages Set Holley Inc. (NYSE:HLLY) PT at $4.50

Shares of Holley Inc. (NYSE:HLLY) have earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $4.50.

A number of analysts have commented on the company. Benchmark boosted their price objective on Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Monday, November 10th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Holley in a research report on Tuesday, December 23rd. Telsey Advisory Group upped their price target on Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Holley in a research 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 report on Monday, November 10th.

Institutional Investors Weigh In On Holley

Institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC boosted its stake in shares of Holley by 32.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 475,297 shares of the company’s stock worth $951,000 after buying an additional 115,851 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Holley by 145.6% during the second quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company’s stock valued at $2,496,000 after acquiring an additional 739,912 shares during the last quarter. Boston Partners lifted its holdings in Holley by 84.8% during the second quarter. Boston Partners now owns 4,807,536 shares of the company’s stock worth $9,615,000 after acquiring an additional 2,206,737 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Holley by 2.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company’s stock worth $22,289,000 after acquiring an additional 275,838 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Holley by 16.5% in the second quarter. Russell Investments Group Ltd. now owns 1,072,720 shares of the company’s stock worth $2,145,000 after purchasing an additional 151,784 shares during the last quarter. 39.70% of the stock is owned by institutional investors.

Holley Stock Performance

HLLY opened at $4.10 on Tuesday. Holley has a 1-year low of $1.60 and a 1-year high of $4.43. The company has a market cap of $494.09 million, a price-to-earnings ratio of -18.64 and a beta of 1.31. The company’s fifty day moving average price is $3.97 and its two-hundred day moving average price is $3.28. The company has a current ratio of 2.78, a quick ratio of 1.06 and a debt-to-equity ratio of 1.20.

Holley (NYSE:HLLY) last issued its quarterly earnings data 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). Holley had a negative net margin of 4.16% and a positive return on equity of 6.75%. The business had revenue of $138.37 million for the quarter, compared to analyst estimates of $132.36 million. On average, analysts expect that Holley will post 0.12 EPS for the current fiscal year.

Holley Company Profile

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.