Holley Inc. (NYSE:HLLY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Holley Inc. (NYSE:HLLY) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $6.63.

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.50 price target on shares of Holley in a research note on Wednesday, January 8th.

Holley Price Performance

Holley stock opened at $3.06 on Monday. The stock has a market cap of $366.58 million, a price-to-earnings ratio of 23.54 and a beta of 1.42. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The business has a 50-day simple moving average of $2.94 and a 200 day simple moving average of $3.04. Holley has a 52 week low of $2.29 and a 52 week high of $5.23.

Holley (NYSE:HLLY) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). Holley had a return on equity of 2.59% and a net margin of 2.55%. The business had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $142.53 million. During the same period in the previous year, the firm posted $0.03 EPS. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, research analysts forecast that Holley will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David S. Lobel sold 1,743,356 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 41,556,961 shares in the company, valued at $124,670,883. This represents a 4.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Holley

A number of large investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new position in shares of Holley during the third quarter valued at approximately $35,000. Dimensional Fund Advisors LP boosted its holdings in 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. JPMorgan Chase & Co. increased its position in Holley by 102.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock valued at $424,000 after purchasing an additional 72,641 shares during the period. Geode Capital Management LLC raised its holdings in Holley by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock worth $3,357,000 after purchasing an additional 55,641 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Holley by 31.1% in the 2nd 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 period. Institutional investors own 39.70% of the company’s stock.

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.