Holley (NYSE:HLLY) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Holley from a “buy” to a “hold,” adding to a mixed but still mostly constructive analyst outlook. MarketBeat says the stock now has a consensus rating of “Moderate Buy” with an average price target of $4.90.
• Holley’s latest earnings were mixed: the company matched estimates with EPS of $0.05, but revenue of $147.33 million came in below expectations of $152.06 million. Analysts are forecasting about $0.30 EPS for the full fiscal year.
• The stock has been volatile, with shares recently opening at $2.82 after an 11.3% move and trading well below the 52-week high of $4.48. Institutional investors also adjusted holdings, and 39.7% of the stock is currently owned by institutions.

Holley (NYSE:HLLY - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Holley from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday. DA Davidson set a $4.50 target price on shares of Holley in a report on Thursday, March 5th. Canaccord Genuity Group dropped their target price on shares of Holley from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday. Telsey Advisory Group reiterated an "outperform" rating and issued a $5.00 target price on shares of Holley in a report on Thursday, March 5th. Finally, Benchmark dropped their target price on shares of Holley from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $4.90.

Holley Stock Up 11.3%

HLLY stock opened at $2.82 on Friday. Holley has a 52 week low of $1.74 and a 52 week high of $4.48. The company has a market capitalization of $340.45 million, a price-to-earnings ratio of 14.82 and a beta of 1.40. The firm's 50-day moving average is $3.23 and its two-hundred day moving average is $3.68. The company has a current ratio of 3.17, a quick ratio of 0.96 and a debt-to-equity ratio of 1.16.

Holley (NYSE:HLLY - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. Holley had a net margin of 3.89% and a return on equity of 5.46%. The company had revenue of $147.33 million for the quarter, compared to the consensus estimate of $152.06 million. On average, analysts forecast that Holley will post 0.3 earnings per share for the current fiscal year.

Institutional Trading of Holley

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC increased its position in shares of Holley by 8.1% in the first quarter. Empowered Funds LLC now owns 283,049 shares of the company's stock worth $727,000 after acquiring an additional 21,121 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Holley by 9.0% in the 2nd 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 in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Holley by 195.1% in the 2nd 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. Rhumbline Advisers lifted its position in shares of Holley by 51.1% in the 2nd quarter. Rhumbline Advisers now owns 103,287 shares of the company's stock valued at $207,000 after acquiring an additional 34,914 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Holley by 10.0% in the 2nd quarter. American Century Companies Inc. now owns 118,727 shares of the company's stock valued at $237,000 after acquiring an additional 10,767 shares in the last quarter. 39.70% of the stock is currently owned by institutional investors.

About Holley

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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