Holley (NYSE:HLLY) Given New $3.50 Price Target at Raymond James

Holley (NYSE:HLLY) had its target price upped by Raymond James from $3.00 to $3.50 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Telsey Advisory Group reiterated an “outperform” rating and set a $4.50 price objective on shares of Holley in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $6.80.

Holley Trading Down 18.0 %

HLLY opened at $2.45 on Wednesday. The company has a market cap of $292.90 million, a P/E ratio of 18.81 and a beta of 1.44. The company has a fifty day moving average price of $2.89 and a two-hundred day moving average price of $2.90. Holley has a 1-year low of $2.29 and a 1-year high of $4.58. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20.

Holley (NYSE:HLLY) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $140.05 million during the quarter, compared to analysts’ expectations of $137.60 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The business’s revenue was down 10.1% on a year-over-year basis. During the same period last year, the company earned $0.01 earnings per share. Analysts predict that Holley will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David S. Lobel sold 1,743,356 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the transaction, the director now directly owns 41,556,961 shares in the company, valued at approximately $124,670,883. The trade was a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY boosted its holdings in Holley by 33.3% during the fourth quarter. Bamco Inc. NY now owns 4,000,000 shares of the company’s stock worth $12,080,000 after purchasing an additional 1,000,000 shares during the last quarter. Blue Owl Capital Holdings LP raised its position in Holley by 17.3% in the fourth quarter. Blue Owl Capital Holdings LP now owns 2,990,294 shares of the company’s stock worth $9,031,000 after acquiring an additional 440,040 shares during the period. Boston Partners bought a new stake in Holley in the fourth quarter worth about $4,746,000. Skylands Capital LLC raised its position in Holley by 4.3% in the fourth quarter. Skylands Capital LLC now owns 1,193,983 shares of the company’s stock worth $3,606,000 after acquiring an additional 49,383 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Holley by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,180,045 shares of the company’s stock worth $3,564,000 after acquiring an additional 104,071 shares during the period. 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.