Holley Inc. (NYSE:HLLY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Holley Inc. (NYSE:HLLY - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $7.75.

HLLY has been the subject of several research reports. Canaccord Genuity Group dropped their price objective on shares of Holley from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, February 29th. Telsey Advisory Group reissued an "outperform" rating and issued a $9.00 price objective on shares of Holley in a research note on Thursday, February 29th. JPMorgan Chase & Co. downgraded shares of Holley from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $6.50 to $5.00 in a research note on Tuesday, February 20th. Benchmark reissued a "buy" rating and issued a $12.00 price objective on shares of Holley in a research note on Thursday, March 28th. Finally, Truist Financial dropped their price objective on shares of Holley from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, February 29th.

Insider Transactions at Holley

In related news, Director Graham Clempson purchased 59,076 shares of Holley stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $4.18 per share, for a total transaction of $246,937.68. Following the completion of the acquisition, the director now owns 63,851 shares of the company's stock, valued at approximately $266,897.18. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Holley

Large investors have recently bought and sold shares of the stock. Wasatch Advisors Inc. boosted its stake in Holley by 40.6% in the first quarter. Wasatch Advisors Inc. now owns 14,820,059 shares of the company's stock valued at $206,147,000 after acquiring an additional 4,280,253 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Holley by 1.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,347,983 shares of the company's stock worth $39,313,000 after buying an additional 202,154 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Holley by 11.1% in the 3rd quarter. Bamco Inc. NY now owns 5,000,000 shares of the company's stock worth $24,950,000 after buying an additional 500,000 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Holley by 3.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,133,749 shares of the company's stock worth $20,131,000 after buying an additional 121,251 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Holley by 13.2% in the 2nd quarter. BlackRock Inc. now owns 3,472,901 shares of the company's stock valued at $14,204,000 after purchasing an additional 405,570 shares in the last quarter. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Stock Performance

Shares of Holley stock remained flat at $4.50 on Tuesday. 238,317 shares of the stock were exchanged, compared to its average volume of 302,942. The firm's 50 day simple moving average is $4.55 and its 200 day simple moving average is $4.54. Holley has a 12 month low of $2.08 and a 12 month high of $8.06. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.12 and a current ratio of 3.17. The stock has a market cap of $534.01 million, a price-to-earnings ratio of 26.44 and a beta of 1.52.

Holley (NYSE:HLLY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $155.70 million during the quarter, compared to the consensus estimate of $153.26 million. Holley had a net margin of 2.91% and a return on equity of 5.77%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) EPS. On average, equities research analysts expect that Holley will post 0.33 EPS for the current fiscal 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.