Analysts Set Holley Inc. (NYSE:HLLY) Price Target at $7.75

Shares of Holley Inc. (NYSE:HLLY) have received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.75.

A number of research firms have recently commented on HLLY. JPMorgan Chase & Co. lowered shares of Holley from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $6.50 to $5.00 in a research report on Tuesday, February 20th. Truist Financial dropped their target price on shares of Holley from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Telsey Advisory Group restated an “outperform” rating and issued a $9.00 price target on shares of Holley in a research report on Thursday, February 29th. Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Holley in a research report on Thursday, March 28th. Finally, Canaccord Genuity Group cut their price target on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, February 29th.

Holley Trading Up 1.4 %

Holley stock opened at $4.06 on Friday. The stock has a market cap of $481.73 million, a P/E ratio of 23.85 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 $4.29 and its 200-day simple moving average is $4.44.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Holley had a return on equity of 5.77% and a net margin of 2.91%. The business had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $153.26 million. During the same quarter in the previous year, the business posted ($0.19) EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Holley will post 0.33 EPS for the current fiscal year.

Insider Transactions at Holley

In related news, Director Graham Clempson acquired 59,076 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $4.18 per share, with a total value of $246,937.68. Following the completion of the purchase, the director now directly owns 63,851 shares in the company, valued at $266,897.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Holley

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Holley during the third quarter worth about $61,000. Tower Research Capital LLC TRC boosted its stake in shares of Holley by 410.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company’s stock worth $66,000 after acquiring an additional 10,867 shares during the period. Arizona State Retirement System acquired a new position in shares of Holley during the 3rd quarter worth approximately $67,000. Precision Wealth Strategies LLC lifted its holdings in Holley by 48.3% during the 3rd quarter. Precision Wealth Strategies LLC now owns 14,835 shares of the company’s stock valued at $74,000 after purchasing an additional 4,832 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Holley in the third quarter valued at $81,000. 39.70% of the stock is owned by institutional investors.

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.