Holley Inc. (NYSE:HLLY) Receives $4.50 Average Price Target from Brokerages

Shares of Holley Inc. (NYSE:HLLY) have been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $4.50.

A number of research analysts recently issued reports on HLLY shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Holley in a report on Thursday, January 22nd. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Holley in a research note on Tuesday, December 23rd. Telsey Advisory Group increased their price target on shares of Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Benchmark boosted their price objective on shares of Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, DA Davidson upped their price objective on Holley from $3.00 to $4.50 and gave the stock a “neutral” rating in a report on Monday, November 10th.

Holley Stock Performance

NYSE:HLLY opened at $4.28 on Friday. The stock has a market capitalization of $515.78 million, a P/E ratio of -19.45 and a beta of 1.32. The company has a current ratio of 2.78, a quick ratio of 1.06 and a debt-to-equity ratio of 1.20. Holley has a 1 year low of $1.60 and a 1 year high of $4.43. The firm has a 50 day moving average of $4.16 and a 200-day moving average of $3.57.

Holley (NYSE:HLLY) last released its quarterly earnings results on Friday, November 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $138.37 million for the quarter, compared to analyst estimates of $132.36 million. Holley had a negative net margin of 4.16% and a positive return on equity of 6.75%. As a group, sell-side analysts anticipate that Holley will post 0.12 EPS for the current fiscal year.

Institutional Trading of Holley

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in shares of Holley by 37.1% in the 4th quarter. ProShare Advisors LLC now owns 13,961 shares of the company’s stock valued at $58,000 after purchasing an additional 3,777 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Holley by 16.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock valued at $65,000 after buying an additional 4,661 shares during the period. Intech Investment Management LLC lifted its holdings in Holley by 16.3% in the second quarter. Intech Investment Management LLC now owns 36,550 shares of the company’s stock valued at $73,000 after buying an additional 5,122 shares during the period. First Trust Advisors LP boosted its stake in Holley by 3.7% in the second quarter. First Trust Advisors LP now owns 184,531 shares of the company’s stock valued at $369,000 after acquiring an additional 6,594 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Holley during the 4th quarter worth $35,000. 39.70% of the stock is owned by institutional investors.

About Holley

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.