Holley (NYSE:HLLY) Stock Rating Reaffirmed by Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Holley (NYSE:HLLY) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $5.50 price objective on the stock.

Several other research analysts have also weighed in on the company. Benchmark reissued a buy rating and set a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Truist Financial dropped their target price on Holley from $8.00 to $7.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group dropped their target price on Holley from $8.00 to $7.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Finally, Raymond James dropped their target price on Holley from $5.25 to $4.25 and set an outperform rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Holley has an average rating of Moderate Buy and an average target price of $6.54.

Holley Stock Down 1.0 %

NYSE:HLLY opened at $3.09 on Monday. The firm has a market capitalization of $368.67 million, a price-to-earnings ratio of 19.31 and a beta of 1.44. Holley has a 1-year low of $2.94 and a 1-year high of $5.67. The company has a current ratio of 2.80, a quick ratio of 1.19 and a debt-to-equity ratio of 1.18. The business’s fifty day moving average price is $3.40 and its 200 day moving average price is $3.78.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $169.50 million for the quarter, compared to analyst estimates of $170.40 million. Holley had a return on equity of 3.51% and a net margin of 3.56%. Holley’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share. On average, sell-side analysts forecast that Holley will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HLLY. Trexquant Investment LP increased its holdings in shares of Holley by 7.2% during the 4th quarter. Trexquant Investment LP now owns 106,027 shares of the company’s stock valued at $516,000 after acquiring an additional 7,151 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Holley by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,180,819 shares of the company’s stock valued at $18,646,000 after acquiring an additional 47,070 shares during the last quarter. Norden Group LLC increased its holdings in shares of Holley by 1,717.0% during the 1st quarter. Norden Group LLC now owns 616,196 shares of the company’s stock valued at $2,748,000 after acquiring an additional 582,283 shares during the last quarter. SYSTM Wealth Solutions LLC acquired a new position in shares of Holley during the 1st quarter valued at about $90,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Holley during the 1st quarter valued at about $937,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

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.