Brokerages Set Holley Inc. (NYSE:HLLY) Target Price at $3.75

Holley Inc. (NYSE:HLLY) has received an average rating of “Buy” from the five analysts that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $3.75.

A number of brokerages recently issued reports on HLLY. Raymond James Financial upped their price target on Holley from $2.25 to $3.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Holley from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Canaccord Genuity Group boosted their price target on shares of Holley from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. 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. Finally, Benchmark upgraded Holley from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Friday, August 8th.

Insiders Place Their Bets

In other news, Director David S. Lobel sold 2,100,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $2.63, for a total value of $5,523,000.00. Following the completion of the sale, the director directly owned 24,654,834 shares of the company’s stock, valued at approximately $64,842,213.42. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in shares of Holley in the fourth quarter valued at about $26,000. Cerity Partners LLC acquired a new stake in Holley during the 2nd quarter worth approximately $25,000. ProShare Advisors LLC purchased a new position in shares of Holley in the 4th quarter valued at approximately $40,000. Nisa Investment Advisors LLC increased its holdings in shares of Holley by 994.4% in the first quarter. Nisa Investment Advisors LLC now owns 16,536 shares of the company’s stock valued at $42,000 after purchasing an additional 15,025 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in shares of Holley during the second quarter worth approximately $44,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

Holley Trading Down 2.5%

NYSE HLLY opened at $3.15 on Friday. Holley has a 52 week low of $1.60 and a 52 week high of $4.09. The firm has a 50 day moving average of $3.24 and a two-hundred day moving average of $2.55. The company has a quick ratio of 1.18, a current ratio of 2.93 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $379.58 million, a PE ratio of -12.12 and a beta of 1.42.

Holley (NYSE:HLLY) last issued 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). 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 for the quarter, compared to analyst estimates of $162.67 million. As a group, research analysts expect that Holley will post 0.12 EPS for the current fiscal year.

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.