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

Key Points

• Holley Inc. has received an average rating of "Buy" from five research firms, with a 12-month price target averaging $3.75.
• Recent reports from analysts show fluctuating target prices, with Canaccord Genuity raising theirs from $5.00 to $6.00, while Truist Financial lowered theirs from $5.00 to $3.00.
• Shares of Holley are currently trading at $3.14 and have seen a 7.9% increase recently, with a market cap of approximately $377.37 million.

Shares of Holley Inc. (NYSE:HLLY - Get Free Report) have earned an average rating of "Buy" from the five analysts that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $3.75.

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

Holley Price Performance

Shares of HLLY traded up $0.17 during mid-day trading on Friday, reaching $3.56. The company had a trading volume of 245,899 shares, compared to its average volume of 538,886. The company's 50 day simple moving average is $2.24 and its 200 day simple moving average is $2.37. Holley has a 1-year low of $1.60 and a 1-year high of $3.55. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 2.93. The company has a market capitalization of $427.24 million, a price-to-earnings ratio of -13.67 and a beta of 1.35.

Holley (NYSE:HLLY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). Holley had a positive return on equity of 5.81% and a negative net margin of 5.12%. The company had revenue of $166.66 million during the quarter, compared to analyst estimates of $162.67 million. Analysts expect that Holley will post 0.12 EPS for the current year.

Institutional Investors Weigh In On Holley

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its holdings in shares of Holley by 16.3% in the second quarter. Intech Investment Management LLC now owns 36,550 shares of the company's stock worth $73,000 after buying an additional 5,122 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Holley during the 4th quarter valued at approximately $26,000. American Century Companies Inc. boosted its position in Holley by 10.0% during the 2nd quarter. American Century Companies Inc. now owns 118,727 shares of the company's stock valued at $237,000 after acquiring an additional 10,767 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in Holley by 2.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 573,228 shares of the company's stock valued at $1,731,000 after acquiring an additional 12,955 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Holley during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 39.70% of the company's stock.

About Holley

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.