Holley’s (HLLY) Outperform Rating Reaffirmed at Telsey Advisory Group

Holley (NYSE:HLLY)‘s stock had its “outperform” rating reissued by stock analysts at Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They presently have a $4.50 target price on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 51.62% from the company’s current price.

Holley Stock Performance

Shares of Holley stock opened at $2.97 on Wednesday. Holley has a one year low of $2.29 and a one year high of $4.58. The company has a market capitalization of $355.56 million, a PE ratio of 22.83 and a beta of 1.44. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. The company has a 50-day simple moving average of $2.90 and a two-hundred day simple moving average of $2.91.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. Holley had a return on equity of 2.59% and a net margin of 2.55%. The business had revenue of $140.05 million for the quarter, compared to analyst estimates of $137.60 million. During the same period in the prior year, the company earned $0.01 earnings per share. The company’s revenue was down 10.1% on a year-over-year basis. Research analysts expect that Holley will post 0.12 EPS for the current fiscal year.

Insider Activity

In other news, Director David S. Lobel sold 1,743,356 shares of Holley 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 directly owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. The trade was a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Holley

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in Holley in the fourth quarter valued at $26,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Holley in the 4th quarter valued at about $30,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Holley in the 4th quarter valued at about $31,000. Cottonwood Capital Advisors LLC acquired a new stake in shares of Holley in the 4th quarter valued at about $32,000. Finally, Verition Fund Management LLC purchased a new position in Holley during the 3rd quarter worth approximately $35,000. 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.