Holley Inc. (NYSE:HLLY) Given Consensus Rating of “Moderate Buy” by Brokerages
by Danessa Lincoln · The Markets DailyHolley Inc. (NYSE:HLLY – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $4.6667.
Several equities research analysts have weighed in on the company. Canaccord Genuity Group increased their price target on Holley from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Telsey Advisory Group reissued an “outperform” rating and issued a $5.00 price objective on shares of Holley in a report on Thursday, March 5th. Weiss Ratings upgraded Holley from a “sell (d)” rating to a “hold (c)” rating in a research note on Monday. Finally, DA Davidson set a $4.50 target price on Holley in a research note on Thursday, March 5th.
Read Our Latest Research Report on Holley
Holley Stock Performance
Shares of NYSE HLLY opened at $2.88 on Friday. The company has a current ratio of 2.75, a quick ratio of 0.96 and a debt-to-equity ratio of 1.15. Holley has a 12 month low of $1.60 and a 12 month high of $4.48. The company has a 50 day simple moving average of $3.78 and a two-hundred day simple moving average of $3.68. The stock has a market cap of $677.49 million, a price-to-earnings ratio of 19.17 and a beta of 1.32.
Holley (NYSE:HLLY – Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). Holley had a net margin of 3.13% and a return on equity of 4.84%. The business had revenue of $155.44 million during the quarter, compared to analysts’ expectations of $142.76 million. As a group, analysts predict that Holley will post 0.12 earnings per share for the current year.
Institutional Investors Weigh In On Holley
Several hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of Holley by 145.6% in the second quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company’s stock worth $2,496,000 after acquiring an additional 739,912 shares during the period. Roubaix Capital LLC acquired a new stake in shares of Holley during the 3rd quarter valued at about $2,431,000. Monashee Investment Management LLC acquired a new stake in shares of Holley during the 3rd quarter valued at about $1,099,000. Boston Partners increased its stake in shares of Holley by 84.8% in the 2nd quarter. Boston Partners now owns 4,807,536 shares of the company’s stock valued at $9,615,000 after purchasing an additional 2,206,737 shares in the last quarter. Finally, Advisory Research Inc. purchased a new position in shares of Holley in the 3rd quarter valued at about $7,065,000. Hedge funds and other 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.