Holley (NYSE:HLLY) Cut to Hold at Benchmark

Benchmark cut shares of Holley (NYSE:HLLY - Free Report) from a buy rating to a hold rating in a report issued on Friday, MarketBeat Ratings reports. They currently have $5.00 target price on the stock.

A number of other equities research analysts have also recently commented on the stock. Canaccord Genuity Group reduced their target price on shares of Holley from $6.00 to $5.00 and set a "buy" rating for the company in a report on Thursday. Telsey Advisory Group reduced their target price on shares of Holley from $4.50 to $2.75 and set an "outperform" rating for the company in a report on Thursday. Truist Financial reduced their target price on shares of Holley from $5.00 to $3.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Raymond James upped their target price on shares of Holley from $3.00 to $3.50 and gave the company an "outperform" rating in a report on Wednesday, March 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3.85.

Holley Stock Performance

HLLY traded down $0.03 on Friday, reaching $1.91. The company had a trading volume of 992,340 shares, compared to its average volume of 433,963. Holley has a 1 year low of $1.60 and a 1 year high of $4.08. The stock has a market capitalization of $228.52 million, a PE ratio of 14.65 and a beta of 1.43. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average price of $2.32 and a 200-day moving average price of $2.68.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). Holley had a net margin of 2.55% and a return on equity of 2.59%. The company had revenue of $153.04 million during the quarter, compared to analysts' expectations of $148.52 million. As a group, research analysts forecast that Holley will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Holley

Institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its holdings in Holley by 25.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company's stock worth $48,000 after purchasing an additional 3,210 shares in the last quarter. Aigen Investment Management LP raised its holdings in Holley by 22.1% during the fourth quarter. Aigen Investment Management LP now owns 18,693 shares of the company's stock worth $56,000 after purchasing an additional 3,389 shares in the last quarter. SG Americas Securities LLC raised its holdings in Holley by 39.8% during the fourth quarter. SG Americas Securities LLC now owns 24,590 shares of the company's stock worth $74,000 after purchasing an additional 7,002 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Holley during the fourth quarter worth about $26,000. Finally, Atria Wealth Solutions Inc. purchased a new position in Holley during the fourth quarter worth about $30,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

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.