Holley (NYSE:HLLY) Trading 0.4% Higher – Should You Buy?

Holley Inc. (NYSE:HLLY) rose 0.4% during mid-day trading on Friday . The company traded as high as $4.21 and last traded at $4.1480. Approximately 436,476 shares traded hands during trading, a decline of 40% from the average daily volume of 727,347 shares. The stock had previously closed at $4.13.

Analysts Set New Price Targets

A number of research analysts have recently commented on HLLY shares. Canaccord Genuity Group reiterated a “buy” rating on shares of Holley in a report on Tuesday, December 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Holley in a report on Wednesday, October 8th. DA Davidson raised their price objective on shares of Holley from $3.00 to $4.50 and gave the stock a “neutral” rating in a report on Monday, November 10th. Telsey Advisory Group upped their target price on shares of Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Benchmark increased their target price on shares of Holley from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Monday, November 10th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Holley Stock Performance

The company has a market cap of $499.88 million, a PE ratio of -18.85 and a beta of 1.31. The stock has a 50 day simple moving average of $3.87 and a two-hundred day simple moving average of $3.23. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.78 and a quick ratio of 1.06.

Holley (NYSE:HLLY) last announced its earnings results on Friday, November 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Holley had a negative net margin of 4.16% and a positive return on equity of 6.75%. The business had revenue of $138.37 million during the quarter, compared to analyst estimates of $132.36 million. Equities analysts predict that Holley Inc. will post 0.12 EPS for the current year.

Institutional Investors Weigh In On Holley

Hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP purchased a new position in Holley in the third quarter worth $18,762,000. Boston Partners grew its stake in shares of Holley by 59.2% during the 3rd quarter. Boston Partners now owns 7,652,545 shares of the company’s stock worth $24,028,000 after purchasing an additional 2,845,009 shares during the period. Advisory Research Inc. purchased a new position in shares of Holley in the 3rd quarter valued at about $7,065,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Holley in the third quarter valued at about $3,435,000. Finally, Roubaix Capital LLC acquired a new stake in shares of Holley in the third quarter valued at about $2,431,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

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.