Holley Inc. (NYSE:HLLY) Receives $3.75 Average Price Target from Analysts

Shares of Holley Inc. (NYSE:HLLY) have received an average rating of “Buy” from the five ratings firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $3.75.

A number of research analysts have issued reports on the stock. Raymond James Financial increased their target price on shares of Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Holley from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Telsey Advisory Group restated an “outperform” rating and set a $2.75 target price on shares of Holley in a research report on Thursday, July 31st. Canaccord Genuity Group increased their target price on shares of Holley from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Benchmark upgraded shares of Holley from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Friday, August 8th.

Holley Stock Performance

Shares of HLLY stock opened at $3.10 on Friday. The company has a market capitalization of $372.95 million, a price-to-earnings ratio of -11.90 and a beta of 1.36. 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 company has a 50-day simple moving average of $3.26 and a 200 day simple moving average of $2.56. Holley has a 52 week low of $1.60 and a 52 week high of $4.09.

Holley (NYSE:HLLY) last announced its earnings results on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $166.66 million for the quarter, compared to the consensus estimate of $162.67 million. Holley had a positive return on equity of 5.81% and a negative net margin of 5.12%. On average, sell-side analysts predict that Holley will post 0.12 earnings per share for the current year.

Insider Activity

In related news, Director David S. Lobel sold 2,100,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $2.63, for a total transaction of $5,523,000.00. Following the sale, the director owned 24,654,834 shares in the company, valued at approximately $64,842,213.42. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of Holley

Several large investors have recently made changes to their positions in HLLY. Boston Partners boosted its position in shares of Holley by 84.8% during the 2nd 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 in the last quarter. Franklin Resources Inc. boosted its position in shares of Holley by 145.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company’s stock worth $2,496,000 after acquiring an additional 739,912 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Holley by 53.4% during the 4th quarter. Bank of America Corp DE now owns 1,076,956 shares of the company’s stock worth $3,252,000 after acquiring an additional 374,691 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Holley by 2.7% during the 2nd 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 in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Holley during the 1st quarter worth approximately $515,000. Institutional investors and hedge funds 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.