Holley (NYSE:HLLY) Upgraded by Benchmark to Buy Rating

Benchmark upgraded shares of Holley (NYSE:HLLY) from a hold rating to a buy rating in a research report sent to investors on Friday morning, MarketBeat reports. The brokerage currently has $4.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $2.75 target price on shares of Holley in a research note on Thursday, July 31st. Canaccord Genuity Group increased their price objective on Holley from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James Financial increased their price objective on Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Truist Financial dropped their price objective on Holley from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Holley has a consensus rating of “Buy” and an average target price of $3.75.

Holley Trading Up 7.9%

HLLY opened at $3.14 on Friday. The stock has a market cap of $377.37 million, a price-to-earnings ratio of -12.08 and a beta of 1.35. The stock’s 50 day moving average price is $2.19 and its 200-day moving average price is $2.36. Holley has a one year low of $1.60 and a one year high of $3.46. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 2.93.

Holley (NYSE:HLLY) last released its earnings results on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $166.66 million for the quarter, compared to the consensus estimate of $162.67 million. Holley had a negative net margin of 5.12% and a positive return on equity of 5.81%. On average, equities analysts forecast that Holley will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HLLY. American Century Companies Inc. lifted its holdings in Holley by 14.4% during the fourth quarter. American Century Companies Inc. now owns 91,792 shares of the company’s stock worth $277,000 after buying an additional 11,559 shares during the period. JPMorgan Chase & Co. lifted its holdings in Holley by 52.1% during the fourth quarter. JPMorgan Chase & Co. now owns 218,645 shares of the company’s stock worth $660,000 after buying an additional 74,885 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Holley during the fourth quarter worth $80,000. Geode Capital Management LLC lifted its holdings in Holley by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,159,335 shares of the company’s stock worth $3,502,000 after buying an additional 21,524 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Holley by 12,719.0% during the fourth quarter. Russell Investments Group Ltd. now owns 819,136 shares of the company’s stock worth $2,474,000 after buying an additional 812,746 shares during the period. Institutional investors own 39.70% of the company’s stock.

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.