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

Key Points

• Holley Inc. (NYSE:HLLY) has received a consensus rating of "Moderate Buy" from six research firms, with one sell rating and five buy ratings, reflecting optimism from investors.
• The average 1-year price target from analysts for Holley stands at $3.75, with various rating upgrades from firms like Telsey Advisory Group and Canaccord Genuity.
• Notably, Director David S. Lobel sold 14 million shares of Holley stock recently, marking a significant 34.35% reduction in his holdings.

Holley Inc. (NYSE:HLLY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $3.75.

HLLY has been the topic of a number of research reports. Weiss Ratings reissued a "sell (d)" rating on shares of Holley in a research note on Wednesday, October 8th. Telsey Advisory Group reissued an "outperform" rating and issued a $2.75 price objective on shares of Holley in a research note on Thursday, July 31st. Raymond James Financial boosted their price objective on Holley from $2.25 to $3.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen raised Holley from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Canaccord Genuity Group upped their target price on Holley from $5.00 to $6.00 and gave the company a "buy" rating in a report on Thursday, August 7th.

Insider Buying and Selling at Holley

In related news, Director David S. Lobel sold 14,000,000 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $2.63, for a total value of $36,820,000.00. Following the completion of the transaction, the director owned 26,754,834 shares in the company, valued at $70,365,213.42. This trade represents a 34.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HLLY. Allspring Global Investments Holdings LLC increased its position in Holley by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,337,982 shares of the company's stock worth $26,569,000 after purchasing an additional 170,132 shares during the last quarter. Nuveen LLC acquired a new position in Holley in the 1st quarter worth about $515,000. Charles Schwab Investment Management Inc. increased its position in Holley by 20.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 473,950 shares of the company's stock worth $1,218,000 after purchasing an additional 80,366 shares during the last quarter. Russell Investments Group Ltd. increased its position in Holley by 12.4% in the 1st quarter. Russell Investments Group Ltd. now owns 920,936 shares of the company's stock worth $2,367,000 after purchasing an additional 101,800 shares during the last quarter. Finally, M&T Bank Corp increased its position in Holley by 40.0% in the 1st quarter. M&T Bank Corp now owns 56,331 shares of the company's stock worth $145,000 after purchasing an additional 16,089 shares during the last quarter. 39.70% of the stock is owned by institutional investors and hedge funds.

Holley Trading Up 0.5%

Shares of HLLY stock opened at $2.93 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 2.93. Holley has a 1 year low of $1.60 and a 1 year high of $4.09. The stock has a fifty day moving average of $3.37 and a two-hundred day moving average of $2.60. The firm has a market capitalization of $352.46 million, a PE ratio of -11.25 and a beta of 1.36.

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 firm had revenue of $166.66 million during the quarter, compared to the consensus estimate of $162.67 million. As a group, research analysts expect that Holley will post 0.12 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.