Holley (NYSE:HLLY) Stock Rating Lowered by Zacks Research

Holley (NYSE:HLLY) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts also recently issued reports about the company. Freedom Capital downgraded Holley from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 target price on shares of Holley in a research report on Monday, June 29th. Finally, Weiss Ratings cut shares of Holley from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.90.

Holley Price Performance

Shares of NYSE HLLY opened at $2.31 on Monday. Holley has a twelve month low of $2.25 and a twelve month high of $4.48. The firm has a market cap of $279.44 million, a P/E ratio of 28.81 and a beta of 1.39. The company has a 50 day moving average of $2.80 and a 200 day moving average of $2.78. The company has a quick ratio of 1.39, a current ratio of 3.06 and a debt-to-equity ratio of 1.15.

Holley (NYSE:HLLY) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. Holley had a return on equity of 8.41% and a net margin of 1.68%.The business had revenue of $172.01 million for the quarter, compared to analysts’ expectations of $172.63 million. As a group, research analysts expect that Holley will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HLLY. BlackRock Inc. purchased a new stake in shares of Holley during the 2nd quarter valued at about $14,361,000. Blue Owl Capital Holdings LP purchased a new stake in Holley during the second quarter valued at approximately $11,161,000. Bank of America Corp DE purchased a new stake in Holley during the second quarter valued at approximately $4,638,000. Dimensional Fund Advisors LP raised its position in Holley by 25.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,447,266 shares of the company’s stock worth $7,512,000 after acquiring an additional 495,923 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Holley during the 2nd quarter worth $1,499,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

About Holley

Holley Inc (NYSE:HLLY) is an automotive aftermarket company that develops, manufactures and distributes performance products for enthusiasts, racers and professional automotive customers. Its offerings are designed for street performance, racing, off-road applications and vehicle restoration.

The company’s product portfolio includes fuel systems, electronic fuel injection and engine-management systems, ignition products, exhaust components, intake systems, engine parts, suspension products, wheels, safety equipment and related accessories.