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

Key Points

• Analysts have a consensus “Hold” rating on Holley, with three buys, three holds and one sell among seven analysts. The average 12-month price target is $4.90.
• Institutional investors and hedge funds own approximately 39.7% of Holley’s shares, with several firms increasing or initiating positions during the reported quarters.
• Holley shares opened at $2.62, near the lower end of their 12-month range, while the company’s latest quarterly EPS of $0.20 exceeded estimates of $0.12; revenue was $172.01 million.

Holley Inc. (NYSE:HLLY - Get Free Report) has received an average recommendation of "Hold" from the seven analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $4.90.

A number of brokerages have issued reports on HLLY. Freedom Capital lowered Holley from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Weiss Ratings lowered Holley from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Zacks Research cut Holley from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Finally, Wall Street Zen raised shares of Holley from a "hold" rating to a "buy" rating in a report on Saturday, August 8th.

Institutional Trading of Holley

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in Holley by 1.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,823,903 shares of the company's stock valued at $30,749,000 after acquiring an additional 122,331 shares during the last quarter. BlackRock Inc. acquired a new stake in Holley during the 2nd quarter valued at $14,361,000. Wasatch Advisors LP boosted its position in shares of Holley by 35.1% during the 2nd quarter. Wasatch Advisors LP now owns 4,887,038 shares of the company's stock valued at $12,462,000 after purchasing an additional 1,269,256 shares in the last quarter. Blue Owl Capital Holdings LP bought a new stake in Holley during the second quarter valued at about $11,161,000. Finally, Bamco Inc. NY acquired a new position in shares of Holley during the second quarter valued at $8,288,000. Institutional investors and hedge funds own 39.70% of the company's stock.

Holley Trading Down 0.6%

Shares of Holley stock opened at $2.62 on Monday. Holley has a 12-month low of $2.25 and a 12-month high of $4.48. The stock has a fifty day simple moving average of $2.63 and a 200 day simple moving average of $3.02. 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 company has a market capitalization of $317.02 million, a P/E ratio of 32.69 and a beta of 1.44.

Holley (NYSE:HLLY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. The firm had revenue of $172.01 million during the quarter, compared to analyst estimates of $172.63 million. Holley had a return on equity of 8.41% and a net margin of 1.68%. On average, sell-side analysts anticipate that Holley will post 0.39 earnings per share for the current fiscal year.

Holley Company Profile

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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