Brokerages Set Holley Inc. (NYSE:HLLY) PT at $6.54

Holley Inc. (NYSE:HLLY) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.54.

A number of research firms have recently commented on HLLY. Raymond James reduced their price target on shares of Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Holley in a research note on Wednesday, September 4th. Truist Financial dropped their price target on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Telsey Advisory Group restated an “outperform” rating and issued a $5.50 price objective on shares of Holley in a research report on Monday, September 9th. Finally, Canaccord Genuity Group dropped their target price on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Holley Stock Performance

NYSE:HLLY opened at $2.96 on Tuesday. The business’s fifty day moving average is $3.27 and its 200 day moving average is $3.67. The firm has a market cap of $352.56 million, a price-to-earnings ratio of 18.47 and a beta of 1.44. 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 has a 52-week low of $2.89 and a 52-week high of $5.23.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $169.50 million for the quarter, compared to the consensus estimate of $170.40 million. Holley had a net margin of 3.56% and a return on equity of 3.51%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. Research analysts predict that Holley will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Holley

A number of institutional investors have recently made changes to their positions in the business. Algert Global LLC grew its holdings in Holley by 31.1% in the 2nd quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after acquiring an additional 4,924 shares during the last quarter. 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 valued at $490,000 after purchasing an additional 4,413 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Holley during the second quarter valued at approximately $42,000. Renaissance Technologies LLC grew its stake in Holley by 665.2% in the second quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock worth $471,000 after purchasing an additional 114,314 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Holley by 52.3% in the second quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock worth $3,491,000 after purchasing an additional 334,940 shares in the last quarter. Hedge funds and other institutional investors 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.