Holley (NYSE:HLLY - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at Telsey Advisory Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $4.50 price objective on the stock. Telsey Advisory Group's target price indicates a potential upside of 51.01% from the stock's current price.
Holley Trading Down 1.3 %
Shares of Holley stock traded down $0.04 on Wednesday, reaching $2.98. 210,667 shares of the company were exchanged, compared to its average volume of 283,193. Holley has a fifty-two week low of $2.29 and a fifty-two week high of $5.23. The firm has a market capitalization of $357.00 million, a price-to-earnings ratio of 22.92 and a beta of 1.42. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The stock has a fifty day moving average price of $2.83 and a 200-day moving average price of $3.09.
Holley (NYSE:HLLY - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $134.00 million for the quarter, compared to analyst estimates of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. Holley's quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, analysts expect that Holley will post 0.12 EPS for the current year.
Insider Activity
In other news, Director David S. Lobel sold 1,743,356 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $3.00, for a total value of $5,230,068.00. Following the transaction, the director now owns 41,556,961 shares in the company, valued at $124,670,883. This represents a 4.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.92% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HLLY. JPMorgan Chase & Co. grew its stake in Holley by 102.1% in the third quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company's stock valued at $424,000 after purchasing an additional 72,641 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Holley in the 3rd quarter valued at approximately $54,000. Barclays PLC increased its holdings in Holley by 288.3% in the third quarter. Barclays PLC now owns 75,795 shares of the company's stock worth $224,000 after buying an additional 56,277 shares during the last quarter. Geode Capital Management LLC raised its position in Holley by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company's stock valued at $3,357,000 after acquiring an additional 55,641 shares in the last quarter. Finally, Zacks Investment Management lifted its stake in Holley by 69.5% in the third quarter. Zacks Investment Management now owns 19,658 shares of the company's stock valued at $58,000 after acquiring an additional 8,061 shares during the last quarter. 39.70% of the stock is owned by hedge funds and other institutional investors.
About Holley
(
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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.
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