Holley Inc. (NYSE:HLLY) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts rate Holley an average “Moderate Buy” (five buys, one hold, one sell) with a 12‑month price target of about $4.67.
• Shares opened at $2.73; the company has a market cap of $328.4M and a P/E of 18.17, with a 52‑week range of $1.60–$4.48. In the latest quarter Holley reported EPS $0.04 versus $0.09 expected (an EPS miss) while revenue beat at $155.44M.
• Institutional investors own 39.7% of Holley, with large recent increases including Franklin Resources adding 739,912 shares (up 145.6%) and JPMorgan boosting its stake by 195.1%.

Holley Inc. (NYSE:HLLY - Get Free Report) has earned an average rating of "Moderate Buy" from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $4.6667.

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Holley from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. DA Davidson set a $4.50 target price on shares of Holley in a research note on Thursday, March 5th. Weiss Ratings restated a "sell (d)" rating on shares of Holley in a report on Thursday, January 22nd. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $5.00 price target on shares of Holley in a research report on Thursday, March 5th.

Hedge Funds Weigh In On Holley

Institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of Holley by 8.1% during the first quarter. Empowered Funds LLC now owns 283,049 shares of the company's stock valued at $727,000 after acquiring an additional 21,121 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Holley by 9.0% in the second quarter. Geode Capital Management LLC now owns 1,320,321 shares of the company's stock valued at $2,641,000 after purchasing an additional 108,964 shares during the last quarter. Intech Investment Management LLC grew its stake in Holley by 16.3% during the 2nd quarter. Intech Investment Management LLC now owns 36,550 shares of the company's stock valued at $73,000 after purchasing an additional 5,122 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Holley by 195.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 77,512 shares of the company's stock valued at $155,000 after purchasing an additional 51,247 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Holley by 145.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company's stock worth $2,496,000 after purchasing an additional 739,912 shares during the last quarter. Institutional investors and hedge funds own 39.70% of the company's stock.

Holley Stock Performance

Shares of HLLY stock opened at $2.73 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.06 and a current ratio of 2.75. The firm has a market capitalization of $328.39 million, a price-to-earnings ratio of 18.17 and a beta of 1.32. Holley has a one year low of $1.60 and a one year high of $4.48. The company has a 50 day moving average price of $3.88 and a 200 day moving average price of $3.70.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.05). The company had revenue of $155.44 million during the quarter, compared to analyst estimates of $142.76 million. Holley had a net margin of 3.13% and a return on equity of 4.84%. Sell-side analysts anticipate that Holley will post 0.12 EPS for the current year.

Holley Company Profile

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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