Holley (NYSE:HLLY) Given New $6.50 Price Target at Telsey Advisory Group

Holley (NYSE:HLLY - Get Free Report) had its price objective lowered by equities researchers at Telsey Advisory Group from $9.00 to $6.50 in a research report issued on Thursday, Marketbeat reports. The brokerage currently has an "outperform" rating on the stock. Telsey Advisory Group's price objective points to a potential upside of 61.69% from the company's current price.

Other analysts have also issued research reports about the company. Benchmark reissued a "buy" rating and set a $12.00 price objective on shares of Holley in a research note on Thursday, March 28th. JPMorgan Chase & Co. lowered 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. Truist Financial dropped their price objective on Holley from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, February 29th. Finally, Canaccord Genuity Group dropped their price target on Holley from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, February 29th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $7.47.

Holley Price Performance

NYSE HLLY traded down $0.06 on Thursday, reaching $4.02. 368,201 shares of the company's stock traded hands, compared to its average volume of 292,036. Holley has a 12 month low of $2.39 and a 12 month high of $8.06. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.17 and a quick ratio of 1.12. The stock has a 50-day simple moving average of $4.23 and a 200 day simple moving average of $4.42. The stock has a market cap of $477.58 million, a PE ratio of 24.00 and a beta of 1.53.

Holley (NYSE:HLLY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. The business had revenue of $155.70 million for the quarter, compared to analysts' expectations of $153.26 million. Holley had a net margin of 2.91% and a return on equity of 5.77%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned ($0.19) earnings per share. As a group, research analysts predict that Holley will post 0.33 earnings per share for the current year.

Insider Buying and Selling at Holley

In related news, Director Graham Clempson bought 59,076 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $4.18 per share, with a total value of $246,937.68. Following the completion of the purchase, the director now owns 63,851 shares in the company, valued at approximately $266,897.18. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company's stock.

Institutional Trading of Holley

Several institutional investors have recently added to or reduced their stakes in HLLY. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Holley during the third quarter valued at $61,000. Tower Research Capital LLC TRC grew its holdings in Holley by 410.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company's stock valued at $66,000 after purchasing an additional 10,867 shares during the period. Arizona State Retirement System purchased a new stake in Holley in the third quarter worth about $67,000. Precision Wealth Strategies LLC raised its stake in shares of Holley by 48.3% in the third quarter. Precision Wealth Strategies LLC now owns 14,835 shares of the company's stock worth $74,000 after buying an additional 4,832 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Holley during the 3rd quarter valued at about $81,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

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.