Holley (NYSE:HLLY) Raised to "Buy" at Wall Street Zen

Key Points

• Holley (NYSE:HLLY) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting positive analyst sentiment.
• The current consensus rating for Holley is "Buy" with a target price of $3.75, supported by multiple analysts raising their price objectives for the stock.
• Shares of Holley are currently trading at $3.14, having experienced a 7.9% increase recently, with a reported 12-month high of $3.46.

Holley (NYSE:HLLY - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

HLLY has been the topic of several other research reports. Canaccord Genuity Group increased their target price on shares of Holley from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Telsey Advisory Group reissued an "outperform" rating and issued a $2.75 target price on shares of Holley in a research note on Thursday, July 31st. Raymond James Financial lifted their price objective on shares of Holley from $2.25 to $3.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Benchmark upgraded shares of Holley from a "hold" rating to a "buy" rating and set a $4.00 price objective for the company in a report on Friday. Finally, Truist Financial decreased their price objective on shares of Holley from $5.00 to $3.00 and set a "buy" rating for the company in a report on Monday, April 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Holley has a consensus rating of "Buy" and an average price target of $3.75.

Holley Price Performance

HLLY stock traded up $0.17 during trading on Friday, hitting $3.40. 1,484,116 shares of the company's stock traded hands, compared to its average volume of 538,471. Holley has a 52 week low of $1.60 and a 52 week high of $3.48. 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 business has a fifty day simple moving average of $2.21 and a 200 day simple moving average of $2.36. The stock has a market capitalization of $408.01 million, a price-to-earnings ratio of -13.06 and a beta of 1.35.

Holley (NYSE:HLLY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Holley had a negative net margin of 5.12% and a positive return on equity of 5.81%. The firm had revenue of $166.66 million during the quarter, compared to analysts' expectations of $162.67 million. As a group, research analysts expect that Holley will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Holley

Several large investors have recently made changes to their positions in HLLY. American Century Companies Inc. raised its position in Holley by 10.0% during the second quarter. American Century Companies Inc. now owns 118,727 shares of the company's stock worth $237,000 after acquiring an additional 10,767 shares during the period. Rhumbline Advisers grew its holdings in shares of Holley by 51.1% in the second quarter. Rhumbline Advisers now owns 103,287 shares of the company's stock valued at $207,000 after purchasing an additional 34,914 shares during the period. Franklin Resources Inc. grew its holdings in shares of Holley by 145.6% in the second quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company's stock valued at $2,496,000 after purchasing an additional 739,912 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Holley by 195.1% in the second 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 during the period. Finally, Intech Investment Management LLC boosted its stake in Holley by 16.3% during 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 during the period. 39.70% of the stock is currently owned by institutional investors and hedge funds.

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.