Holley’s (HLLY) “Buy” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Holley (NYSE:HLLY) in a research note released on Thursday morning, Benzinga reports. Benchmark currently has a $12.00 price objective on the stock.

Several other research firms have also recently commented on HLLY. JPMorgan Chase & Co. cut shares of Holley from an overweight rating to a neutral rating and dropped their target price for the stock from $6.50 to $5.00 in a research report on Tuesday, February 20th. Canaccord Genuity Group dropped their target price on shares of Holley from $9.00 to $8.00 and set a buy rating for the company in a research report on Thursday, February 29th. Telsey Advisory Group reaffirmed an outperform rating and issued a $9.00 target price on shares of Holley in a research report on Thursday, February 29th. Finally, Truist Financial dropped their target price on shares of Holley from $9.00 to $8.00 and set a buy rating for the company in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $7.75.

Holley Price Performance

Shares of Holley stock opened at $4.46 on Thursday. The firm has a market cap of $528.22 million, a PE ratio of 26.21 and a beta of 1.52. Holley has a 12-month low of $2.08 and a 12-month high of $8.06. The company has a quick ratio of 1.12, a current ratio of 3.17 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $4.57 and its two-hundred day simple moving average is $4.56.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $155.70 million for the quarter, compared to analyst estimates of $153.26 million. Holley had a net margin of 2.91% and a return on equity of 5.77%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) EPS. As a group, equities analysts expect that Holley will post 0.33 EPS for the current year.

Insider Activity at Holley

In other Holley news, Director Graham Clempson purchased 59,076 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $4.18 per share, with a total value of $246,937.68. Following the transaction, the director now directly owns 63,851 shares in the company, valued at approximately $266,897.18. The transaction 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 corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in Holley by 132.8% in the second quarter. PNC Financial Services Group Inc. now owns 6,061 shares of the company’s stock worth $25,000 after buying an additional 3,457 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Holley in the first quarter worth about $28,000. Barclays PLC raised its holdings in Holley by 533.4% in the fourth quarter. Barclays PLC now owns 13,808 shares of the company’s stock worth $29,000 after buying an additional 11,628 shares during the last quarter. Cibc World Market Inc. purchased a new position in Holley in the second quarter worth about $41,000. Finally, Tower Research Capital LLC TRC raised its holdings in Holley by 148.0% in the third quarter. Tower Research Capital LLC TRC now owns 11,693 shares of the company’s stock worth $48,000 after buying an additional 6,978 shares during the last quarter. 39.70% of the stock is owned by hedge funds and other institutional investors.

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.