Holley Inc. (NYSE:HLLY) Receives $6.54 Consensus Price Target from Analysts

Shares of Holley Inc. (NYSE:HLLY) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.54.

A number of research firms recently commented on HLLY. Raymond James lowered their price target on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group dropped their target price on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial reduced their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Telsey Advisory Group reissued an “outperform” rating and set a $5.50 price objective on shares of Holley in a report on Monday, September 9th. Finally, Benchmark restated a “buy” rating and set a $12.00 price target on shares of Holley in a report on Wednesday, September 4th.

Holley Price Performance

Shares of NYSE:HLLY opened at $3.03 on Tuesday. The company has a market capitalization of $362.93 million, a P/E ratio of 18.94 and a beta of 1.44. Holley has a 1-year low of $2.89 and a 1-year high of $5.23. The firm’s 50 day simple moving average is $3.28 and its two-hundred day simple moving average is $3.69. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.80 and a quick ratio of 1.19.

Holley (NYSE:HLLY) last issued its earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $169.50 million during the quarter, compared to the consensus estimate of $170.40 million. Holley had a net margin of 3.56% and a return on equity of 3.51%. Holley’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. Research analysts expect that Holley will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Holley

Large investors have recently made changes to their positions in the company. Algert Global LLC grew its holdings in shares of Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after purchasing an additional 4,924 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Holley by 3.3% in the 2nd quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock worth $490,000 after buying an additional 4,413 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of Holley during the 2nd quarter worth $42,000. Renaissance Technologies LLC increased its stake in shares of Holley by 665.2% during the second quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock valued at $471,000 after buying an additional 114,314 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Holley by 52.3% in the second quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after acquiring an additional 334,940 shares in the last quarter. 39.70% of the stock is 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.