Holley’s (HLLY) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Holley (NYSE:HLLY) in a research report report published on Wednesday,Benzinga reports. They currently have a $4.50 price target on the stock.

Holley Stock Performance

HLLY stock opened at $2.87 on Wednesday. The firm has a 50-day simple moving average of $2.84 and a two-hundred day simple moving average of $3.09. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. Holley has a one year low of $2.29 and a one year high of $5.23. The firm has a market cap of $343.82 million, a price-to-earnings ratio of 22.08 and a beta of 1.42.

Holley (NYSE:HLLY) last announced its earnings results on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm had revenue of $134.00 million during the quarter, compared to analyst estimates of $142.53 million. During the same quarter last year, the business earned $0.03 earnings per share. Holley’s revenue was down 14.4% on a year-over-year basis. On average, equities analysts forecast that Holley will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at Holley

In other Holley news, Director David S. Lobel sold 1,743,356 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the transaction, the director now owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. This trade represents a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Holley

Several hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC grew its stake in Holley by 3.3% during the 2nd quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock valued at $490,000 after purchasing an additional 4,413 shares during the last quarter. Algert Global LLC boosted its position in Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock valued at $74,000 after buying an additional 4,924 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in Holley by 1.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after buying an additional 5,431 shares during the period. Zacks Investment Management raised its position in Holley by 69.5% during the 3rd quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock worth $58,000 after buying an additional 8,061 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Holley during the 2nd quarter valued at approximately $42,000. 39.70% of the stock is owned by institutional investors and hedge funds.

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.