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

Key Points

• Holley Inc. (NYSE:HLLY) has a consensus analyst rating of “Moderate Buy” from six brokerages, with four buy ratings and two hold ratings. The average 12-month price target is $4.90.
• Recent analyst actions were mixed: Telsey Advisory Group reiterated an outperform rating with a $5.00 target, while other firms trimmed targets or downgraded their views, including Benchmark cutting its target to $4.00 and Wall Street Zen downgrading the stock to hold.
• Holley recently reported Q1 earnings of $0.05 per share, matching estimates, but revenue of $147.33 million came in below expectations. The stock was trading at $2.82 and remains below both its 50-day and 200-day moving averages.

Shares of Holley Inc. (NYSE:HLLY - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $4.90.

HLLY has been the subject of a number of recent analyst reports. Telsey Advisory Group restated an "outperform" rating and set a $5.00 price objective on shares of Holley in a report on Thursday, March 5th. Weiss Ratings cut Holley from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday. Benchmark lowered their target price on Holley from $4.50 to $4.00 and set a "buy" rating for the company in a report on Friday. Raymond James Financial set a $4.00 target price on Holley in a report on Thursday. Finally, Wall Street Zen cut Holley from a "buy" rating to a "hold" rating in a report on Saturday.

Holley Price Performance

HLLY opened at $2.82 on Monday. The business has a fifty day moving average of $3.23 and a 200 day moving average of $3.68. Holley has a 52-week low of $1.74 and a 52-week high of $4.48. The company has a quick ratio of 1.07, a current ratio of 3.17 and a debt-to-equity ratio of 1.16. The stock has a market cap of $340.45 million, a P/E ratio of 14.82 and a beta of 1.40.

Holley (NYSE:HLLY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.05. Holley had a return on equity of 5.46% and a net margin of 3.89%.The company had revenue of $147.33 million during the quarter, compared to analysts' expectations of $152.06 million. As a group, sell-side analysts anticipate that Holley will post 0.3 EPS for the current year.

Institutional Investors Weigh In On Holley

Hedge funds have recently made changes to their positions in the company. Cerity Partners LLC bought a new position in shares of Holley in the 2nd quarter worth $25,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Holley in the 3rd quarter worth $34,000. State of Alaska Department of Revenue bought a new position in shares of Holley in the 4th quarter worth $35,000. Chicago Partners Investment Group LLC bought a new position in shares of Holley in the 1st quarter worth $35,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Holley in the 3rd quarter worth $38,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.