Holley Inc. (NYSE:HLLY) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Holley Inc. (NYSE:HLLY - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $6.39.

Several brokerages have recently weighed in on HLLY. Telsey Advisory Group cut their target price on Holley from $5.50 to $4.50 and set an "outperform" rating on the stock in a research report on Monday. Benchmark restated a "buy" rating and issued a $12.00 target price on shares of Holley in a report on Wednesday, September 4th. Canaccord Genuity Group dropped their target price on shares of Holley from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Raymond James reduced their price target on shares of Holley from $5.25 to $4.25 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Finally, Truist Financial dropped their price objective on Holley from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, August 8th.

Institutional Investors Weigh In On Holley

A number of hedge funds and other institutional investors have recently modified their holdings of HLLY. Intech Investment Management LLC purchased a new position in shares of Holley during the 3rd quarter worth about $41,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Holley during the 2nd quarter valued at $42,000. Lazard Asset Management LLC acquired a new stake in shares of Holley during the 1st quarter worth $43,000. SG Americas Securities LLC purchased a new position in shares of Holley in the 3rd quarter worth $52,000. Finally, Algert Global LLC boosted its holdings in Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company's stock valued at $74,000 after acquiring an additional 4,924 shares during the last quarter. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Holley Trading Down 0.4 %

Holley stock traded down $0.01 during midday trading on Wednesday, reaching $2.73. 444,520 shares of the stock traded hands, compared to its average volume of 357,069. The firm has a market cap of $327.00 million, a PE ratio of 21.00 and a beta of 1.45. The company has a current ratio of 2.93, a quick ratio of 1.19 and a debt-to-equity ratio of 1.20. The company has a 50-day simple moving average of $2.91 and a two-hundred day simple moving average of $3.34. Holley has a 12-month low of $2.29 and a 12-month high of $5.23.

Holley (NYSE:HLLY - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $134.00 million during the quarter, compared to analysts' expectations of $142.53 million. During the same period in the prior year, the business earned $0.03 EPS. The business's quarterly revenue was down 14.4% on a year-over-year basis. Research analysts expect that Holley will post 0.14 earnings per share for the current fiscal year.

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.