Holley Inc. (NYSE:HLLY) Receives $4.90 Average PT from Analysts

Shares of Holley Inc. (NYSE:HLLY) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $4.90.

A number of equities analysts recently weighed in on the stock. Weiss Ratings cut shares of Holley from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. DA Davidson set a $4.50 price objective on shares of Holley in a research report on Thursday, March 5th. Raymond James Financial set a $4.00 price objective on shares of Holley in a research report on Thursday, May 7th. Wall Street Zen cut shares of Holley from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $5.00 price target on shares of Holley in a research report on Thursday, March 5th.

Hedge Funds Weigh In On Holley

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HLLY. Wasatch Advisors LP purchased a new position in Holley in the 3rd quarter valued at approximately $18,762,000. Boston Partners boosted its position in Holley by 59.2% in the 3rd quarter. Boston Partners now owns 7,652,545 shares of the company’s stock valued at $24,028,000 after buying an additional 2,845,009 shares during the period. Advisory Research Inc. purchased a new position in Holley in the 3rd quarter valued at approximately $7,065,000. Hillsdale Investment Management Inc. boosted its position in Holley by 76,322.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,910,561 shares of the company’s stock valued at $7,891,000 after buying an additional 1,908,061 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Holley in the 3rd quarter valued at approximately $3,435,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Stock Performance

NYSE:HLLY opened at $2.66 on Monday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.07 and a current ratio of 3.17. The stock has a market capitalization of $322.49 million, a P/E ratio of 13.97 and a beta of 1.40. The company has a 50 day moving average price of $3.08 and a 200 day moving average price of $3.67. Holley has a fifty-two week low of $1.90 and a fifty-two week high of $4.48.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $147.33 million during the quarter, compared to analysts’ expectations of $152.06 million. Holley had a net margin of 3.89% and a return on equity of 5.46%. Equities research analysts forecast that Holley will post 0.3 EPS for the current year.

About Holley

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.