Holley Inc. (NYSE:HLLY) Receives Consensus Recommendation of "Buy" from Analysts

Shares of Holley Inc. (NYSE:HLLY - Get Free Report) have been assigned a consensus recommendation of "Buy" from the five ratings firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is $3.75.

HLLY has been the subject of several analyst reports. Wall Street Zen upgraded Holley from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Benchmark upgraded Holley from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a research report on Friday, August 8th. Raymond James Financial increased their price objective on Holley from $2.25 to $3.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Telsey Advisory Group reiterated an "outperform" rating and issued a $2.75 price objective on shares of Holley in a research report on Thursday, July 31st. Finally, Canaccord Genuity Group increased their price objective on Holley from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Holley by 2.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company's stock worth $22,289,000 after buying an additional 275,838 shares during the period. Boston Partners boosted its position in shares of Holley by 84.8% during the second quarter. Boston Partners now owns 4,807,536 shares of the company's stock worth $9,615,000 after buying an additional 2,206,737 shares during the period. Bank of America Corp DE boosted its position in shares of Holley by 2.4% during the second quarter. Bank of America Corp DE now owns 1,498,337 shares of the company's stock worth $2,997,000 after buying an additional 34,947 shares during the period. Geode Capital Management LLC boosted its position in shares of Holley by 9.0% during the second quarter. Geode Capital Management LLC now owns 1,320,321 shares of the company's stock worth $2,641,000 after buying an additional 108,964 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Holley by 145.6% during the second quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company's stock worth $2,496,000 after buying an additional 739,912 shares during the period. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Holley Price Performance

Shares of NYSE:HLLY traded down $0.11 during midday trading on Wednesday, hitting $3.85. The company had a trading volume of 485,963 shares, compared to its average volume of 555,422. Holley has a twelve month low of $1.60 and a twelve month high of $4.09. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.93 and a quick ratio of 1.18. The stock has a market cap of $463.93 million, a price-to-earnings ratio of -14.81 and a beta of 1.42. The business's 50-day simple moving average is $2.83 and its 200-day simple moving average is $2.47.

Holley (NYSE:HLLY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $166.66 million during the quarter, compared to analysts' expectations of $162.67 million. Holley had a positive return on equity of 5.81% and a negative net margin of 5.12%. On average, research analysts predict that Holley will post 0.12 earnings per share for the current year.

Holley Company Profile

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.