Holley (NYSE:HLLY) Stock Price Target Cut by Telsey Advisory Group

Key Points

• Telsey Advisory Group cut Holley’s price target from $5 to $4 but maintained its “outperform” rating; the new target implies roughly 92% upside from the previous close.
• Analyst sentiment is mixed: MarketBeat reports a consensus “Hold” rating and a $4 price target, with three Buy, three Hold, and one Sell recommendation.
• Holley’s latest quarter fell short of estimates, reporting EPS of $0.06 versus $0.07 expected and revenue of $141.56 million versus $145.80 million expected.

Holley (NYSE:HLLY - Get Free Report) had its price objective decreased by stock analysts at Telsey Advisory Group from $5.00 to $4.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Telsey Advisory Group's target price suggests a potential upside of 91.85% from the stock's previous close.

HLLY has been the subject of several other research reports. Zacks Research cut Holley from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Freedom Capital lowered Holley from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Wall Street Zen lowered Holley from a "buy" rating to a "hold" rating in a report on Saturday. Canaccord Genuity Group reduced their price target on Holley from $7.00 to $5.00 and set a "buy" rating for the company in a research report on Friday. Finally, DA Davidson set a $3.00 price target on Holley in a research note on Friday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.00.

Holley Stock Performance

HLLY stock opened at $2.08 on Friday. The business's 50-day moving average price is $2.59 and its two-hundred day moving average price is $2.97. The company has a current ratio of 3.04, a quick ratio of 1.23 and a debt-to-equity ratio of 1.07. The firm has a market cap of $252.77 million, a PE ratio of 13.90 and a beta of 1.44. Holley has a 1-year low of $2.05 and a 1-year high of $4.48.

Holley (NYSE:HLLY - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $141.56 million during the quarter, compared to analyst estimates of $145.80 million. Holley had a net margin of 3.07% and a return on equity of 9.28%. As a group, research analysts forecast that Holley will post 0.39 earnings per share for the current year.

Institutional Trading of Holley

A number of large investors have recently added to or reduced their stakes in HLLY. Chicago Partners Investment Group LLC acquired a new stake in Holley in the 1st quarter valued at about $35,000. Williams & Novak Wealth Management LLC acquired a new position in Holley during the third quarter worth approximately $25,000. Hillsdale Investment Management Inc. increased its position in Holley by 1.0% during the first quarter. Hillsdale Investment Management Inc. now owns 1,929,461 shares of the company's stock worth $5,923,000 after buying an additional 18,900 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Holley during the second quarter worth approximately $52,000. Finally, Skylands Capital LLC raised its stake in Holley by 2.1% in the third quarter. Skylands Capital LLC now owns 1,092,212 shares of the company's stock valued at $2,578,000 after buying an additional 22,383 shares during the period. Institutional investors and hedge funds own 39.70% of the company's stock.

About Holley

Holley Inc is an automotive aftermarket company that designs, manufactures and distributes performance products for cars, trucks, powersports vehicles and other enthusiast applications. Its offerings include fuel systems, engine and ignition components, exhaust products, suspension and driveline components, electronic controls, vehicle accessories and safety equipment.

The company serves do-it-yourself consumers, professional installers, racing teams, automotive enthusiasts and original equipment manufacturers through a portfolio of established aftermarket brands.

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