Telsey Advisory Group Reiterates Outperform Rating for Holley (NYSE:HLLY)

Holley (NYSE:HLLY - Get Free Report)'s stock had its "outperform" rating reaffirmed by Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $4.50 price target on the stock. Telsey Advisory Group's price target would indicate a potential upside of 51.62% from the company's previous close.

Holley Stock Up 23.7 %

Shares of NYSE:HLLY opened at $2.97 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. The company has a market capitalization of $355.56 million, a price-to-earnings ratio of 22.83 and a beta of 1.44. The business's 50-day moving average is $2.90 and its 200-day moving average is $2.91. Holley has a 1 year low of $2.29 and a 1 year high of $4.58.

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

Insider Transactions at Holley

In related news, Director David S. Lobel sold 1,743,356 shares of the firm's stock in a transaction on 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 completion of the sale, the director now owns 41,556,961 shares of the company's stock, valued at $124,670,883. This trade represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Atria Wealth Solutions Inc. purchased a new position in shares of Holley during the fourth quarter valued at approximately $30,000. Verition Fund Management LLC bought a new stake in Holley during the third quarter valued at about $35,000. JPMorgan Chase & Co. lifted its holdings in Holley by 102.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company's stock worth $424,000 after purchasing an additional 72,641 shares in the last quarter. Geode Capital Management LLC grew its stake 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, Barclays PLC lifted its position in shares of 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 in the last quarter. 39.70% of the stock is owned by hedge funds and other 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.

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