Holley Inc. (NYSE:HLLY) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give Holley a “Moderate Buy” consensus, with three buys, one strong buy, two holds and one sell among seven analysts. The average 12-month price target is $4.90, compared with the reported share price of $2.69.
• Holley exceeded quarterly EPS expectations, reporting $0.20 versus the $0.12 consensus estimate, while revenue of $172.01 million was slightly below estimates. Analysts expect full-year EPS of $0.39.
• The company authorized a $25 million share-repurchase program, allowing it to buy back up to 8.2% of outstanding shares; institutional investors own approximately 39.7% of Holley’s stock.

Holley Inc. (NYSE:HLLY - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.90.

A number of analysts have issued reports on HLLY shares. Freedom Capital downgraded shares of Holley from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Canaccord Genuity Group restated a "buy" rating and set a $7.00 price objective on shares of Holley in a research report on Monday, June 29th. Weiss Ratings lowered Holley from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, August 6th. Wall Street Zen raised Holley from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Zacks Research upgraded Holley from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC bought a new position in Holley in the 2nd quarter worth about $25,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Holley during the third quarter valued at approximately $34,000. Chicago Partners Investment Group LLC bought a new position in Holley in the first quarter worth approximately $35,000. Sherbrooke Park Advisers LLC bought a new position in Holley in the third quarter worth approximately $38,000. Finally, Captrust Financial Advisors purchased a new position in Holley during the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 39.70% of the company's stock.

Holley Stock Up 2.5%

NYSE HLLY opened at $2.69 on Friday. Holley has a 12 month low of $2.33 and a 12 month high of $4.48. The company has a current ratio of 3.06, a quick ratio of 1.39 and a debt-to-equity ratio of 1.15. The stock has a market cap of $325.50 million, a PE ratio of 33.56 and a beta of 1.32. The stock's 50 day moving average is $2.83 and its 200 day moving average is $2.92.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. Holley had a net margin of 1.68% and a return on equity of 8.41%. The business had revenue of $172.01 million during the quarter, compared to analyst estimates of $172.63 million. Research analysts predict that Holley will post 0.39 EPS for the current fiscal year.

Holley declared that its board has approved a stock repurchase program on Tuesday, May 26th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

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.

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