Holley (NYSE:HLLY) Given New $3.00 Price Target at Truist Financial

Holley (NYSE:HLLY - Free Report) had its price target cut by Truist Financial from $5.00 to $3.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on HLLY. Raymond James raised their price objective on shares of Holley from $3.00 to $3.50 and gave the company an "outperform" rating in a research note on Wednesday, March 12th. Telsey Advisory Group reissued an "outperform" rating and set a $4.50 price target on shares of Holley in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $6.00.

Holley Stock Down 0.7 %

NYSE HLLY traded down $0.02 during trading hours on Monday, reaching $2.07. 431,962 shares of the company's stock traded hands, compared to its average volume of 409,813. The firm has a market cap of $247.72 million, a PE ratio of 15.88 and a beta of 1.41. 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 52-week low of $2.05 and a 52-week high of $4.28. The firm has a 50-day simple moving average of $2.54 and a 200 day simple moving average of $2.76.

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

Institutional Trading of Holley

Several hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in Holley by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company's stock worth $1,308,000 after acquiring an additional 43,053 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Holley during the 3rd quarter worth about $35,000. Barclays PLC grew its holdings in Holley by 288.3% during the 3rd quarter. Barclays PLC now owns 75,795 shares of the company's stock valued at $224,000 after purchasing an additional 56,277 shares during the last quarter. Geode Capital Management LLC raised its position in Holley by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company's stock worth $3,357,000 after purchasing an additional 55,641 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Holley during the third quarter valued at approximately $54,000. Hedge funds and other 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.