Holley Inc. (NYSE:HLLY) Receives $3.75 Average Price Target from Brokerages

Holley Inc. (NYSE:HLLY) has earned a consensus recommendation of “Buy” from the five brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $3.75.

A number of research firms have recently issued reports on HLLY. Canaccord Genuity Group lifted their price objective on shares of Holley from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Benchmark raised shares of Holley from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Friday, August 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $2.75 price objective on shares of Holley in a report on Thursday, July 31st. Raymond James Financial lifted their price objective on shares of Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Holley from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

Holley Stock Performance

NYSE HLLY opened at $3.85 on Wednesday. Holley has a 1 year low of $1.60 and a 1 year high of $4.09. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.93 and a quick ratio of 1.18. The stock has a market capitalization of $463.93 million, a PE ratio of -14.81 and a beta of 1.42. The company’s 50 day simple moving average is $2.87 and its two-hundred day simple moving average is $2.48.

Holley (NYSE:HLLY) last posted its earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Holley had a positive return on equity of 5.81% and a negative net margin of 5.12%.The firm had revenue of $166.66 million during the quarter, compared to analysts’ expectations of $162.67 million. Analysts predict that Holley will post 0.12 earnings per share for the current fiscal year.

Institutional Trading of Holley

Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new position in shares of Holley during the second quarter valued at about $44,000. Brevan Howard Capital Management LP increased its holdings in shares of Holley by 103.4% in the second quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company’s stock worth $45,000 after buying an additional 11,494 shares during the period. Bank of America Corp DE increased its holdings in shares of Holley by 2.4% in the second quarter. Bank of America Corp DE now owns 1,498,337 shares of the company’s stock worth $2,997,000 after buying an additional 34,947 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Holley by 16.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock worth $65,000 after buying an additional 4,661 shares during the period. Finally, Cerity Partners LLC purchased a new position in shares of Holley in the second quarter worth about $25,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

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.