Holley Inc. (NYSE:HLLY) Stock Has Average Price Target of $4.90

Key Points

• Holley has a consensus “Hold” rating from seven analysts, split among one sell, three hold, and three buy recommendations. The average 12-month price target is $4.90, compared with the stock’s opening price of $2.35.
• Holley reported quarterly earnings of $0.20 per share, beating the $0.12 consensus estimate, while revenue of $172.01 million was slightly below expectations of $172.63 million.
• Institutional investors own approximately 39.7% of Holley’s shares, with several firms—including Bamco and Bank of America—establishing new positions during the second quarter.

Holley Inc. (NYSE:HLLY - Get Free Report) has been given a consensus recommendation of "Hold" by the seven brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $4.90.

Several equities analysts recently commented on the stock. Freedom Capital lowered shares of Holley from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. Weiss Ratings lowered shares of Holley from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Holley from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Canaccord Genuity Group restated a "buy" rating and set a $7.00 price objective on shares of Holley in a report on Monday, June 29th. Finally, Zacks Research lowered Holley from a "strong-buy" rating to a "hold" rating in a research report on Monday.

Holley Stock Up 1.5%

HLLY opened at $2.35 on Thursday. Holley has a 12 month low of $2.25 and a 12 month high of $4.48. The business has a 50-day moving average of $2.79 and a two-hundred day moving average of $2.78. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.06 and a quick ratio of 1.39. The stock has a market capitalization of $285.50 million, a price-to-earnings ratio of 29.44 and a beta of 1.39.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $172.63 million. On average, research analysts expect that Holley will post 0.39 earnings per share for the current year.

Institutional Investors Weigh In On Holley

A number of institutional investors have recently added to or reduced their stakes in HLLY. Engineers Gate Manager LP acquired a new position in shares of Holley in the 2nd quarter valued at about $179,000. Penn Capital Management Company LLC purchased a new stake in shares of Holley during the 2nd quarter worth about $628,000. Empowered Funds LLC acquired a new stake in Holley during the 2nd quarter worth approximately $1,499,000. Bamco Inc. NY acquired a new stake in Holley during the 2nd quarter worth approximately $8,288,000. Finally, Bank of America Corp DE acquired a new stake in Holley during the 2nd quarter worth approximately $4,638,000. Hedge funds and other institutional investors own 39.70% of the company's stock.

Holley Company Profile

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.

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