Holley (NYSE:HLLY) Given New $3.50 Price Target at Raymond James

Holley (NYSE:HLLY - Free Report) had its target price raised by Raymond James from $3.00 to $3.50 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Separately, Telsey Advisory Group reiterated an "outperform" rating and issued a $4.50 price target on shares of Holley in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $6.80.

Holley Stock Down 1.0 %

Shares of NYSE:HLLY traded down $0.03 during midday trading on Wednesday, reaching $2.41. The company had a trading volume of 657,145 shares, compared to its average volume of 374,099. The stock has a market capitalization of $288.11 million, a P/E ratio of 18.50 and a beta of 1.44. The stock's fifty day moving average price is $2.87 and its 200-day moving average price is $2.89. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. Holley has a one year low of $2.26 and a one year high of $4.58.

Holley (NYSE:HLLY - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.02 by $0.09. The business had revenue of $140.05 million for the quarter, compared to analysts' expectations of $137.60 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The company's quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 earnings per share. Equities research analysts expect that Holley will post 0.12 earnings per share for the current fiscal year.

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Insider Buying and Selling

In other Holley news, Director David S. Lobel sold 1,743,356 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the transaction, the director now owns 41,556,961 shares in the company, valued at approximately $124,670,883. This represents a 4.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.92% of the company's stock.

Hedge Funds Weigh In On Holley

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in shares of Holley in the fourth quarter worth $26,000. Atria Wealth Solutions Inc. bought a new position in Holley in the 4th quarter valued at about $30,000. Catalyst Funds Management Pty Ltd acquired a new position in Holley during the 4th quarter valued at about $31,000. Cottonwood Capital Advisors LLC bought a new stake in shares of Holley during the 4th quarter worth about $32,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Holley in the 3rd quarter worth approximately $35,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

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.