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

Holley Inc. (NYSE:HLLY) has been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $4.90.

HLLY has been the subject of a number of recent research reports. Wall Street Zen downgraded Holley from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Raymond James Financial set a $4.00 price objective on Holley in a report on Thursday, May 7th. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 price objective on shares of Holley in a report on Monday. Benchmark decreased their price objective on Holley from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $5.00 price objective on shares of Holley in a report on Thursday, March 5th.

Institutional Trading of Holley

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in Holley by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,823,903 shares of the company’s stock worth $30,749,000 after acquiring an additional 122,331 shares during the period. Boston Partners grew its holdings in 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 acquiring an additional 2,845,009 shares during the period. Wasatch Advisors LP acquired a new stake in Holley during the 3rd quarter worth about $18,762,000. Blue Owl Capital Holdings LP grew its holdings in Holley by 18.2% during the 3rd quarter. Blue Owl Capital Holdings LP now owns 4,862,361 shares of the company’s stock worth $15,268,000 after acquiring an additional 750,000 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Holley by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,677,058 shares of the company’s stock worth $11,546,000 after acquiring an additional 110,170 shares during the period. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Stock Performance

NYSE HLLY opened at $2.59 on Tuesday. The company has a market capitalization of $313.98 million, a price-to-earnings ratio of 13.61 and a beta of 1.32. Holley has a twelve month low of $1.98 and a twelve month high of $4.48. The stock has a fifty day simple moving average of $2.76 and a 200 day simple moving average of $3.42. The company has a quick ratio of 1.07, a current ratio of 3.17 and a debt-to-equity ratio of 1.16.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $147.33 million during the quarter, compared to the consensus estimate of $152.06 million. Holley had a return on equity of 5.46% and a net margin of 3.89%. Sell-side analysts expect that Holley will post 0.31 EPS for the current year.

Holley announced that its board has authorized a share buyback plan on Tuesday, May 26th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.