Holley Inc. (NYSE:HLLY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Holley Inc. (NYSE:HLLY) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $4.6667.

A number of equities analysts recently commented on HLLY shares. DA Davidson set a $4.50 price target on Holley in a research note on Thursday, March 5th. Telsey Advisory Group restated an “outperform” rating and set a $5.00 price objective on shares of Holley in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Holley in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group lifted their target price on Holley from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th.

Hedge Funds Weigh In On Holley

A number of hedge funds have recently added to or reduced their stakes in the business. Sonoma Allocations LLC bought a new stake in Holley during the fourth quarter valued at $120,000. Invesco Ltd. raised its holdings in shares of Holley by 18.1% during the fourth quarter. Invesco Ltd. now owns 120,172 shares of the company’s stock worth $496,000 after purchasing an additional 18,440 shares during the period. Empowered Funds LLC lifted its position in shares of Holley by 44.3% in the 4th quarter. Empowered Funds LLC now owns 505,929 shares of the company’s stock worth $2,089,000 after buying an additional 155,208 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Holley in the 4th quarter valued at about $102,000. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Holley by 31.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 913,229 shares of the company’s stock valued at $3,772,000 after buying an additional 216,208 shares during the period. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Trading Down 6.7%

NYSE HLLY opened at $2.73 on Friday. Holley has a 12 month low of $1.60 and a 12 month high of $4.48. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.75 and a quick ratio of 1.06. The company has a market capitalization of $328.39 million, a price-to-earnings ratio of 18.17 and a beta of 1.32. The company’s fifty day moving average price is $3.88 and its two-hundred day moving average price is $3.70.

Holley (NYSE:HLLY) last released its earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05). The company had revenue of $155.44 million during the quarter, compared to the consensus estimate of $142.76 million. Holley had a return on equity of 4.84% and a net margin of 3.13%. As a group, research analysts predict that Holley will post 0.12 earnings per share for the current fiscal year.

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.