Telsey Advisory Group Lowers Holley (NYSE:HLLY) Price Target to $4.50

Holley (NYSE:HLLY - Free Report) had its price objective decreased by Telsey Advisory Group from $5.50 to $4.50 in a research note published on Monday, Marketbeat reports. Telsey Advisory Group currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the company. Benchmark restated a "buy" rating and set a $12.00 price target on shares of Holley in a report on Wednesday, September 4th. Truist Financial lowered their target price on Holley from $8.00 to $7.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group dropped their price objective on shares of Holley from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, Raymond James reduced their price objective on Holley from $5.25 to $4.25 and set an "outperform" rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $6.39.

Holley Stock Up 3.6 %

NYSE HLLY traded up $0.10 during trading hours on Monday, reaching $2.86. 663,702 shares of the company's stock were exchanged, compared to its average volume of 355,115. The company has a market capitalization of $342.57 million, a price-to-earnings ratio of 21.23 and a beta of 1.45. Holley has a one year low of $2.29 and a one year high of $5.23. The company's 50-day moving average is $2.94 and its two-hundred day moving average is $3.36. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.19 and a current ratio of 2.80.

Holley (NYSE:HLLY - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Holley had a net margin of 3.56% and a return on equity of 3.51%. The company had revenue of $134.00 million during the quarter, compared to the consensus estimate of $142.53 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm's revenue was down 14.4% compared to the same quarter last year. On average, analysts forecast that Holley will post 0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Holley

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC lifted its stake in shares of Holley by 3.3% in the 2nd quarter. Squarepoint Ops LLC now owns 136,795 shares of the company's stock worth $490,000 after purchasing an additional 4,413 shares during the period. Algert Global LLC boosted its position in shares of Holley by 31.1% during the 2nd 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. Sei Investments Co. increased its holdings in shares of Holley by 1.3% in the 1st quarter. Sei Investments Co. now owns 403,759 shares of the company's stock worth $1,801,000 after buying an additional 5,000 shares during the last quarter. ClariVest Asset Management LLC lifted its position in Holley by 1.8% in the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company's stock worth $1,104,000 after buying an additional 5,431 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Holley during the 1st quarter valued at about $43,000. Institutional investors 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.