Holley (NYSE:HLLY) Price Target Raised to $3.00

Key Points

• Raymond James Financial raised Holley's target price from $2.25 to $3.00, indicating a potential upside of 6.19% from the current stock price, while maintaining an "outperform" rating.
• Several analysts have lowered their target prices for Holley, with consensus ratings showing one hold and four buy ratings, resulting in a current consensus price target of $3.75.
• Holley reported $166.66 million in revenue for the last quarter, slightly exceeding analyst expectations, although they missed earnings per share estimates by $0.01.

Holley (NYSE:HLLY - Get Free Report) had its target price hoisted by Raymond James Financial from $2.25 to $3.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's target price suggests a potential upside of 6.19% from the stock's current price.

Several other equities analysts have also recently issued reports on the company. Truist Financial dropped their target price on Holley from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Canaccord Genuity Group dropped their price target on Holley from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Benchmark downgraded Holley from a "buy" rating to a "hold" rating and set a $5.00 target price for the company. in a research report on Friday, May 9th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $2.75 price objective on shares of Holley in a report on Thursday, July 31st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.75.

Holley Stock Performance

NYSE HLLY opened at $2.83 on Thursday. The stock's 50 day simple moving average is $2.14 and its 200-day simple moving average is $2.37. The company has a market cap of $339.51 million, a PE ratio of -13.45 and a beta of 1.35. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 0.98. Holley has a 1-year low of $1.60 and a 1-year high of $3.46.

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 analysts' consensus estimates of $0.10 by ($0.01). Holley had a negative net margin of 4.05% and a positive return on equity of 6.18%. The firm had revenue of $166.66 million during the quarter, compared to analyst estimates of $162.67 million. As a group, equities research analysts anticipate that Holley will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Holley

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Holley by 2.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company's stock valued at $22,289,000 after purchasing an additional 275,838 shares in the last quarter. Bamco Inc. NY raised its position in shares of Holley by 33.3% during the 4th quarter. Bamco Inc. NY now owns 4,000,000 shares of the company's stock valued at $12,080,000 after acquiring an additional 1,000,000 shares during the last quarter. Blue Owl Capital Holdings LP raised its holdings in Holley by 17.3% in the fourth quarter. Blue Owl Capital Holdings LP now owns 2,990,294 shares of the company's stock worth $9,031,000 after purchasing an additional 440,040 shares during the period. Boston Partners raised its position in shares of Holley by 65.5% during the first quarter. Boston Partners now owns 2,600,799 shares of the company's stock worth $6,680,000 after purchasing an additional 1,029,495 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Holley by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,180,045 shares of the company's stock valued at $3,564,000 after buying an additional 104,071 shares during the period. Institutional investors own 39.70% of the company's stock.

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.

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