Holley (NYSE:HLLY) Stock Price Down 3.9% - Here's What Happened

Key Points

• Shares of Holley fell 3.9% mid-day to $2.855, with 303,273 shares trading—down about 64% from the average session volume.
• Analysts are broadly positive: five Buys and two Holds produce a consensus Moderate Buy rating and a $4.67 average price target, with recent targets ranging from $4.50 to $8.00.
• Holley reported quarterly EPS of $0.04, missing estimates by $0.05 while beating revenue ($155.44M vs. $142.76M), and the company has a market cap of $687.9M and a P/E of 19.46.

Shares of Holley Inc. (NYSE:HLLY - Get Free Report) traded down 3.9% during mid-day trading on Wednesday . The stock traded as low as $2.84 and last traded at $2.8550. 303,273 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 853,702 shares. The stock had previously closed at $2.97.

Analyst Ratings Changes

A number of brokerages have weighed in on HLLY. DA Davidson set a $4.50 price target on Holley in a report on Thursday, March 5th. Telsey Advisory Group reissued an "outperform" rating and issued a $5.00 price objective on shares of Holley in a research note on Thursday, March 5th. Weiss Ratings upgraded Holley from a "sell (d)" rating to a "hold (c)" rating in a research report on Monday. Finally, Canaccord Genuity Group raised their target price on Holley from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Holley presently has an average rating of "Moderate Buy" and a consensus price target of $4.67.

Holley Stock Performance

The firm has a market capitalization of $687.86 million, a P/E ratio of 19.46 and a beta of 1.32. The company's 50 day moving average is $3.83 and its 200-day moving average is $3.69. The company has a quick ratio of 0.96, a current ratio of 2.75 and a debt-to-equity ratio of 1.15.

Holley (NYSE:HLLY - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05). Holley had a net margin of 3.13% and a return on equity of 4.84%. The company had revenue of $155.44 million during the quarter, compared to the consensus estimate of $142.76 million. As a group, equities analysts anticipate that Holley Inc. will post 0.12 EPS for the current year.

Institutional Trading of Holley

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in Holley by 8.1% during the 1st quarter. Empowered Funds LLC now owns 283,049 shares of the company's stock worth $727,000 after buying an additional 21,121 shares during the period. Geode Capital Management LLC grew its stake in Holley by 9.0% in the second quarter. Geode Capital Management LLC now owns 1,320,321 shares of the company's stock valued at $2,641,000 after acquiring an additional 108,964 shares during the period. Intech Investment Management LLC grew its stake in Holley by 16.3% in the second quarter. Intech Investment Management LLC now owns 36,550 shares of the company's stock valued at $73,000 after acquiring an additional 5,122 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Holley by 195.1% during the second quarter. JPMorgan Chase & Co. now owns 77,512 shares of the company's stock valued at $155,000 after acquiring an additional 51,247 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Holley by 145.6% during the second quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company's stock worth $2,496,000 after purchasing an additional 739,912 shares during the period. 39.70% of the stock is owned by 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.

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