Holley (NYSE:HLLY) Upgraded to “Strong-Buy” at Freedom Broker

Freedom Broker upgraded shares of Holley (NYSE:HLLY) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks reports.

Other equities research analysts have also recently issued reports about the company. Freedom Capital cut Holley from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Holley in a research report on Tuesday, November 3rd. Telsey Advisory Group lowered their price objective on Holley from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Friday, November 6th. Zacks Research lowered Holley from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, DA Davidson set a $3.00 target price on shares of Holley in a report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Holley has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Holley Price Performance

Shares of Holley stock opened at $2.50 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.23 and a current ratio of 3.04. Holley has a 52-week low of $2.05 and a 52-week high of $4.48. The company has a fifty day moving average of $2.57 and a 200-day moving average of $2.95. The stock has a market capitalization of $303.69 million, a price-to-earnings ratio of 16.70 and a beta of 1.44.

Holley (NYSE:HLLY) last issued its earnings results on Thursday, November 5th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $141.56 million during the quarter, compared to analysts’ expectations of $145.80 million. Holley had a return on equity of 9.28% and a net margin of 3.07%. Equities research analysts expect that Holley will post 0.37 EPS for the current year.

Institutional Trading of Holley

A number of institutional investors have recently modified their holdings of HLLY. Allspring Global Investments Holdings LLC increased its holdings in Holley by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,066,406 shares of the company’s stock valued at $23,958,000 after purchasing an additional 258,955 shares during the period. BlackRock Inc. purchased a new stake in Holley in the 2nd quarter worth approximately $14,361,000. Wasatch Advisors LP lifted its holdings in Holley by 35.1% in the 2nd quarter. Wasatch Advisors LP now owns 4,887,038 shares of the company’s stock worth $12,462,000 after buying an additional 1,269,256 shares during the period. Blue Owl Capital Holdings LP purchased a new stake in Holley in the 2nd quarter worth approximately $11,161,000. Finally, Bamco Inc. NY bought a new stake in shares of Holley in the 2nd quarter worth approximately $8,288,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

About Holley

Holley Inc. designs, manufactures and markets performance parts and accessories for the automotive aftermarket. Its products serve enthusiasts and racers who modify, restore or compete with vehicles, including classic cars and modern performance vehicles. The company’s offerings include fuel and electronic fuel-injection systems, carburetors, ignition and engine components, intake and exhaust products, transmission and chassis parts, and automotive safety equipment. Its portfolio includes brands such as Holley, MSD, Flowmaster, Hooker, B&M and Simpson.