Holley Inc. (NYSE:HLLY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Holley Inc. (NYSE:HLLY) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $4.90.

Several equities analysts have weighed in on the company. Weiss Ratings cut Holley from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Raymond James Financial set a $4.00 target price on Holley in a research note on Thursday, May 7th. Benchmark lowered their target price on Holley from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $5.00 target price on shares of Holley in a research note on Thursday, March 5th. Finally, DA Davidson set a $4.50 target price on Holley in a research note on Thursday, March 5th.

Holley Trading Up 0.9%

NYSE:HLLY opened at $2.61 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 3.17 and a quick ratio of 1.07. Holley has a fifty-two week low of $1.92 and a fifty-two week high of $4.48. The stock’s 50-day moving average is $2.94 and its two-hundred day moving average is $3.61. The stock has a market cap of $317.37 million, a PE ratio of 13.75 and a beta of 1.32.

Holley (NYSE:HLLY) last released its earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Holley had a return on equity of 5.46% and a net margin of 3.89%.The company had revenue of $147.33 million for the quarter, compared to analysts’ expectations of $152.06 million. As a group, equities research analysts forecast that Holley will post 0.3 earnings per share for the current fiscal year.

Holley announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 26th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Holley

Several large investors have recently made changes to their positions in HLLY. Cerity Partners LLC bought a new stake in shares of Holley in the 2nd quarter valued at approximately $25,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Holley in the 3rd quarter valued at approximately $34,000. State of Alaska Department of Revenue bought a new stake in shares of Holley in the 4th quarter valued at approximately $35,000. Chicago Partners Investment Group LLC bought a new stake in shares of Holley in the 1st quarter valued at approximately $35,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Holley in the 3rd quarter valued at approximately $38,000. Institutional investors own 39.70% of the company’s stock.

Holley Company Profile

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.