Holley (NYSE:HLLY) Earns “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Holley (NYSE:HLLY) in a research note released on Wednesday morning,Benzinga reports. Telsey Advisory Group currently has a $4.50 price target on the stock.

Holley Price Performance

Shares of NYSE:HLLY opened at $2.98 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The firm has a 50-day simple moving average of $2.83 and a 200 day simple moving average of $3.09. Holley has a fifty-two week low of $2.29 and a fifty-two week high of $5.23. The company has a market cap of $357.00 million, a PE ratio of 22.92 and a beta of 1.42.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $134.00 million for the quarter, compared to analyst estimates of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, sell-side analysts anticipate that Holley will post 0.12 EPS for the current year.

Insider Activity

In other Holley news, Director David S. Lobel sold 1,743,356 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $3.00, for a total value of $5,230,068.00. Following the sale, the director now owns 41,556,961 shares in the company, valued at approximately $124,670,883. This trade represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Holley

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ClariVest Asset Management LLC lifted its holdings in Holley by 1.8% in the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after purchasing an additional 5,431 shares during the period. American Century Companies Inc. raised its position in shares of Holley by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock worth $230,000 after buying an additional 12,186 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Holley by 52.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock worth $3,491,000 after acquiring an additional 334,940 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Holley by 665.2% in the second quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock valued at $471,000 after acquiring an additional 114,314 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Holley during the second quarter valued at approximately $42,000. 39.70% of the stock is owned by institutional investors.

Holley Company Profile

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners, automotive performance plumbing products; and exhaust products, as well as shifters, converters, transmission kits, transmissions, tuners, and automotive software.