Brokerages Set Holley Inc. (NYSE:HLLY) Target Price at $4.50

Shares of Holley Inc. (NYSE:HLLY) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.50.

HLLY has been the topic of several recent research reports. Canaccord Genuity Group reissued a “buy” rating on shares of Holley in a research report on Tuesday, December 23rd. 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 note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Holley in a research note on Thursday, January 22nd. Telsey Advisory Group upped their price target 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, 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 research note on Monday, November 10th.

Holley Price Performance

NYSE:HLLY opened at $4.15 on Friday. The company has a quick ratio of 1.06, a current ratio of 2.78 and a debt-to-equity ratio of 1.20. Holley has a 52 week low of $1.60 and a 52 week high of $4.43. The business’s 50-day simple moving average is $4.16 and its two-hundred day simple moving average is $3.55. The stock has a market cap of $500.12 million, a PE ratio of -18.86 and a beta of 1.32.

Holley (NYSE:HLLY) last released its quarterly earnings data on Friday, November 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 company had revenue of $138.37 million for the quarter, compared to the consensus estimate of $132.36 million. As a group, analysts forecast that Holley will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP bought a new stake in shares of Holley in the third quarter valued at about $18,762,000. Boston Partners increased its position in Holley by 59.2% during the 3rd quarter. Boston Partners now owns 7,652,545 shares of the company’s stock valued at $24,028,000 after purchasing an additional 2,845,009 shares during the period. Advisory Research Inc. bought a new stake in shares of Holley in the 3rd quarter valued at about $7,065,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Holley in the 3rd quarter worth approximately $3,435,000. Finally, Roubaix Capital LLC bought a new position in shares of Holley during the third quarter valued at approximately $2,431,000. 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.