Holley (NYSE:HLLY) Stock Price Up 0.4% – Time to Buy?

Holley Inc. (NYSE:HLLY) shares rose 0.4% during mid-day trading on Tuesday . The stock traded as high as $4.07 and last traded at $4.0550. Approximately 411,076 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 673,155 shares. The stock had previously closed at $4.04.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HLLY shares. Benchmark raised their price objective on shares of Holley from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Monday, November 10th. Canaccord Genuity Group reissued a “buy” rating on shares of Holley in a research report on Tuesday, December 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Holley in a research report on Thursday, January 22nd. DA Davidson lifted their target price on Holley from $3.00 to $4.50 and gave the stock a “neutral” rating in a report on Monday, November 10th. Finally, Telsey Advisory Group boosted their price target on Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

Holley Price Performance

The stock has a market capitalization of $488.67 million, a P/E ratio of -18.43 and a beta of 1.31. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.06 and a current ratio of 2.78. The firm has a fifty day moving average price of $4.15 and a two-hundred day moving average price of $3.48.

Holley (NYSE:HLLY) last posted its quarterly earnings data 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 firm had revenue of $138.37 million for the quarter, compared to analysts’ expectations of $132.36 million. As a group, analysts expect that Holley Inc. will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Holley

Several institutional investors have recently made changes to their positions in HLLY. Empowered Funds LLC boosted its holdings in shares of Holley by 8.1% in the first quarter. Empowered Funds LLC now owns 283,049 shares of the company’s stock worth $727,000 after buying an additional 21,121 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Holley by 2.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company’s stock worth $22,289,000 after acquiring an additional 275,838 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Holley by 32.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 475,297 shares of the company’s stock worth $951,000 after acquiring an additional 115,851 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Holley during the 2nd quarter valued at $47,000. Finally, Boston Partners increased its stake in shares of Holley by 28.3% in the 2nd quarter. Boston Partners now owns 3,335,967 shares of the company’s stock worth $6,672,000 after purchasing an additional 735,168 shares in the last quarter. Institutional investors 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.