Holley Inc. (NYSE:HLLY) Receives $7.47 Average PT from Analysts

Shares of Holley Inc. (NYSE:HLLY) have been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $7.47.

HLLY has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of Holley in a report on Tuesday, June 18th. Canaccord Genuity Group restated a “buy” rating and issued a $8.00 target price on shares of Holley in a research note on Friday, June 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $6.50 price target on shares of Holley in a research report on Tuesday, June 4th.

Holley Price Performance

NYSE:HLLY opened at $3.99 on Thursday. The firm has a market cap of $476.05 million, a PE ratio of 24.94 and a beta of 1.47. The company’s 50-day moving average price is $3.63 and its two-hundred day moving average price is $4.17. The company has a quick ratio of 1.04, a current ratio of 2.85 and a debt-to-equity ratio of 1.26. Holley has a 12 month low of $3.16 and a 12 month high of $8.06.

Insider Activity

In other news, Chairman Matthew E. Rubel acquired 14,493 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average cost of $3.39 per share, with a total value of $49,131.27. Following the acquisition, the chairman now owns 169,979 shares of the company’s stock, valued at approximately $576,228.81. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Holley

A number of institutional investors have recently bought and sold shares of HLLY. Norden Group LLC grew its stake in shares of Holley by 1,717.0% during the first quarter. Norden Group LLC now owns 616,196 shares of the company’s stock worth $2,748,000 after purchasing an additional 582,283 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Holley during the 1st quarter worth about $937,000. Allspring Global Investments Holdings LLC increased its stake in shares of Holley by 3.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,133,749 shares of the company’s stock valued at $20,131,000 after acquiring an additional 121,251 shares during the last quarter. Skylands Capital LLC raised its position in shares of Holley by 7.2% in the 4th quarter. Skylands Capital LLC now owns 589,400 shares of the company’s stock valued at $2,870,000 after acquiring an additional 39,600 shares during the period. Finally, SYSTM Wealth Solutions LLC bought a new position in Holley during the 1st quarter worth approximately $90,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

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.