Canaccord Genuity Group Reaffirms Buy Rating for Holley (NYSE:HLLY)

Canaccord Genuity Group reissued their buy rating on shares of Holley (NYSE:HLLYFree Report) in a research note published on Friday, Benzinga reports. They currently have a $8.00 price objective on the stock.

A number of other research analysts have also commented on the stock. Truist Financial reduced their price target on shares of Holley from $9.00 to $8.00 and set a buy rating for the company in a research report on Thursday, February 29th. Benchmark restated a buy rating and set a $12.00 price target on shares of Holley in a research report on Tuesday, June 18th. Finally, Telsey Advisory Group restated an outperform rating and set a $6.50 price target on shares of Holley in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $7.47.

Read Our Latest Stock Analysis on HLLY

Holley Price Performance

HLLY opened at $3.57 on Friday. The company has a fifty day moving average price of $3.82 and a 200-day moving average price of $4.31. The firm has a market capitalization of $425.94 million, a P/E ratio of 22.31 and a beta of 1.49. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.85 and a quick ratio of 1.04. Holley has a one year low of $3.16 and a one year high of $8.06.

Insider Transactions at Holley

In other Holley news, Chairman Matthew E. Rubel purchased 14,493 shares of the stock in a transaction on Wednesday, June 12th. The stock was acquired at an average cost of $3.39 per share, with a total value of $49,131.27. Following the completion of the purchase, the chairman now directly owns 169,979 shares of the company’s stock, valued at approximately $576,228.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Holley

Several hedge funds and other institutional investors have recently modified their holdings of HLLY. Lazard Asset Management LLC bought a new position in shares of Holley during the first quarter valued at about $43,000. Tower Research Capital LLC TRC raised its stake in shares of 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 acquiring an additional 10,867 shares during the last quarter. Barclays PLC raised its stake in shares of Holley by 70.0% during the third quarter. Barclays PLC now owns 17,870 shares of the company’s stock valued at $89,000 after acquiring an additional 7,356 shares during the last quarter. SYSTM Wealth Solutions LLC bought a new position in shares of Holley during the first quarter valued at about $90,000. Finally, Numerai GP LLC bought a new position in shares of Holley during the third quarter valued at about $98,000. 39.70% of the stock is owned by institutional investors.

About Holley

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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.

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Analyst Recommendations for Holley (NYSE:HLLY)

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