Analysts Set Holley Inc. (NYSE:HLLY) Target Price at $6.63

Holley Inc. (NYSE:HLLY) has earned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.63.

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 price objective on shares of Holley in a research report on Wednesday, January 8th.

Insider Activity at Holley

In other news, Director David S. Lobel sold 1,743,356 shares of the 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 sale, the director now directly owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. This represents a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Holley

A number of hedge funds have recently bought and sold shares of HLLY. Allspring Global Investments Holdings LLC increased its stake in Holley by 6.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company’s stock valued at $30,117,000 after purchasing an additional 618,449 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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. Dimensional Fund Advisors LP raised its holdings in Holley by 52.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock worth $3,491,000 after acquiring an additional 334,940 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Holley by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company’s stock valued at $1,308,000 after acquiring an additional 43,053 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Holley by 5.2% during the 4th quarter. Empowered Funds LLC now owns 261,928 shares of the company’s stock valued at $791,000 after purchasing an additional 12,955 shares during the last quarter. Institutional investors own 39.70% of the company’s stock.

Holley Stock Performance

Shares of NYSE HLLY opened at $3.06 on Monday. The stock has a market cap of $366.59 million, a price-to-earnings ratio of 23.54 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. Holley has a 1-year low of $2.29 and a 1-year high of $5.23. The stock’s 50-day moving average is $2.94 and its 200 day moving average is $3.03.

Holley (NYSE:HLLY) last released its earnings results on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The company had revenue of $134.00 million during the quarter, compared to the consensus estimate of $142.53 million. During the same period last year, the firm posted $0.03 EPS. The company’s revenue was down 14.4% on a year-over-year basis. On average, sell-side analysts anticipate that Holley will post 0.12 EPS for the current fiscal year.

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.