Holley (NYSE:HLLY) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Holley (NYSE:HLLY) in a research note released on Thursday,Benzinga reports. They currently have a $5.00 price target on the stock.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group lifted their price target on Holley from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Holley in a report on Thursday, January 22nd. DA Davidson boosted their target price on Holley from $3.00 to $4.50 and gave the company a “neutral” rating in a research report on Monday, November 10th. Finally, Benchmark raised their price target on Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.67.

Holley Stock Performance

Shares of NYSE:HLLY opened at $3.64 on Thursday. The firm has a fifty day simple moving average of $4.11 and a two-hundred day simple moving average of $3.76. Holley has a 52 week low of $1.60 and a 52 week high of $4.48. The company has a quick ratio of 1.06, a current ratio of 2.78 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $438.66 million, a P/E ratio of 24.27 and a beta of 1.32.

Institutional Investors Weigh In On Holley

Several hedge funds and other institutional investors have recently modified their holdings of HLLY. Sonoma Allocations LLC purchased a new position in Holley during the 4th quarter valued at $120,000. Invesco Ltd. increased its stake in Holley by 18.1% in the fourth quarter. Invesco Ltd. now owns 120,172 shares of the company’s stock worth $496,000 after purchasing an additional 18,440 shares during the period. Empowered Funds LLC lifted its position in shares of Holley by 44.3% during the fourth quarter. Empowered Funds LLC now owns 505,929 shares of the company’s stock worth $2,089,000 after purchasing an additional 155,208 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Holley during the fourth quarter valued at $102,000. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Holley by 31.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 913,229 shares of the company’s stock worth $3,772,000 after purchasing an additional 216,208 shares during the last quarter. 39.70% of the stock is currently owned by hedge funds and other 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.