Holley (NYSE:HLLY) Stock Price Target Cut by Telsey Advisory Group

Holley (NYSE:HLLY) had its target price reduced by analysts at Telsey Advisory Group from $5.00 to $4.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Telsey Advisory Group‘s price target would indicate a potential upside of 91.85% from the stock’s previous close.

Several other analysts also recently commented on the stock. Canaccord Genuity Group reduced their target price on shares of Holley from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday. Freedom Capital cut shares of Holley from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Wall Street Zen cut shares of Holley from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research downgraded shares of Holley from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Holley in a report on Tuesday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.00.

Holley Trading Down 0.7%

Shares of Holley stock opened at $2.08 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.04 and a quick ratio of 1.23. The business has a fifty day simple moving average of $2.59 and a two-hundred day simple moving average of $2.97. Holley has a 1 year low of $2.05 and a 1 year high of $4.48. The company has a market capitalization of $252.77 million, a price-to-earnings ratio of 13.90 and a beta of 1.44.

Holley (NYSE:HLLY) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $141.56 million during the quarter, compared to analyst estimates of $145.80 million. Holley had a net margin of 3.07% and a return on equity of 9.28%. Research analysts forecast that Holley will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HLLY. Russell Investments Group Ltd. lifted its holdings in shares of Holley by 38.9% during the third quarter. Russell Investments Group Ltd. now owns 2,203,493 shares of the company’s stock worth $5,200,000 after buying an additional 617,178 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Holley in the third quarter valued at about $96,000. Penn Capital Management Company LLC grew its stake in shares of Holley by 134.4% in the third quarter. Penn Capital Management Company LLC now owns 577,427 shares of the company’s stock valued at $1,363,000 after acquiring an additional 331,067 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Holley by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,066,406 shares of the company’s stock valued at $23,958,000 after acquiring an additional 258,955 shares in the last quarter. Finally, Skylands Capital LLC grew its stake in shares of Holley by 2.1% in the third quarter. Skylands Capital LLC now owns 1,092,212 shares of the company’s stock valued at $2,578,000 after acquiring an additional 22,383 shares in the last quarter. Institutional investors own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc is an automotive aftermarket company that designs, manufactures and distributes performance products for cars, trucks, powersports vehicles and other enthusiast applications. Its offerings include fuel systems, engine and ignition components, exhaust products, suspension and driveline components, electronic controls, vehicle accessories and safety equipment.

The company serves do-it-yourself consumers, professional installers, racing teams, automotive enthusiasts and original equipment manufacturers through a portfolio of established aftermarket brands.