Holley (NYSE:HLLY) PT Lowered to $6.50

Holley (NYSE:HLLY) had its price target lowered by stock analysts at Telsey Advisory Group from $9.00 to $6.50 in a note issued to investors on Thursday, Briefing.com reports. The firm presently has an “outperform” rating on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 59.31% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut Holley from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $6.50 to $5.00 in a report on Tuesday, February 20th. Truist Financial lowered their price target on shares of Holley from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Canaccord Genuity Group decreased their target price on shares of Holley from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Finally, Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Holley in a research note on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.47.

Holley Stock Performance

NYSE HLLY opened at $4.08 on Thursday. The firm has a market cap of $484.70 million, a P/E ratio of 24.00 and a beta of 1.53. The company has a quick ratio of 1.12, a current ratio of 3.17 and a debt-to-equity ratio of 1.31. The company’s 50 day moving average is $4.23 and its 200-day moving average is $4.42. Holley has a 12-month low of $2.31 and a 12-month high of $8.06.

Holley (NYSE:HLLY) last issued its earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share (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 revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. Sell-side analysts predict that Holley will post 0.33 earnings per share for the current year.

Insiders Place Their Bets

In other Holley news, Director Graham Clempson bought 59,076 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $4.18 per share, for a total transaction of $246,937.68. Following the transaction, the director now directly owns 63,851 shares in the company, valued at $266,897.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Holley

Several large investors have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. purchased a new stake in Holley during the third quarter valued at approximately $1,539,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Holley during the 3rd quarter valued at $61,000. Bamco Inc. NY lifted its stake in Holley by 11.1% in the third quarter. Bamco Inc. NY now owns 5,000,000 shares of the company’s stock worth $24,950,000 after acquiring an additional 500,000 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Holley by 3.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,133,749 shares of the company’s stock valued at $20,131,000 after buying an additional 121,251 shares during the period. Finally, Skylands Capital LLC lifted its stake in shares of Holley by 7.2% during the 4th quarter. Skylands Capital LLC now owns 589,400 shares of the company’s stock worth $2,870,000 after purchasing an additional 39,600 shares during the last quarter. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

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.