Telsey Advisory Group Reaffirms “Outperform” Rating for Holley (NYSE:HLLY)

Telsey Advisory Group restated their outperform rating on shares of Holley (NYSE:HLLY) in a research report sent to investors on Monday morning, Benzinga reports. Telsey Advisory Group currently has a $5.50 price target on the stock.

A number of other research analysts have also issued reports on the company. Benchmark restated a buy rating and set a $12.00 price objective on shares of Holley in a research report on Wednesday, September 4th. Raymond James cut their target price on Holley from $5.25 to $4.25 and set an outperform rating on the stock in a research note on Thursday, August 8th. Truist Financial cut their target price on Holley from $8.00 to $7.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group cut their target price on Holley from $8.00 to $7.00 and set a buy rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $6.54.

Holley Trading Down 1.0 %

NYSE:HLLY opened at $3.09 on Monday. Holley has a 12-month low of $2.94 and a 12-month high of $5.67. The firm has a market capitalization of $368.67 million, a P/E ratio of 19.31 and a beta of 1.44. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.80 and a quick ratio of 1.19. The business has a 50 day simple moving average of $3.40 and a 200 day simple moving average of $3.78.

Holley (NYSE:HLLY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Holley had a return on equity of 3.51% and a net margin of 3.56%. The business had revenue of $169.50 million during the quarter, compared to analyst estimates of $170.40 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts predict that Holley will post 0.19 EPS for the current year.

Institutional Trading of Holley

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Holley in the 2nd quarter worth $42,000. Lazard Asset Management LLC purchased a new stake in shares of Holley during the first quarter valued at $43,000. Algert Global LLC lifted its holdings in shares of Holley by 31.1% during the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock valued at $74,000 after purchasing an additional 4,924 shares during the last quarter. SYSTM Wealth Solutions LLC purchased a new stake in shares of Holley during the first quarter valued at $90,000. Finally, Norden Group LLC lifted its holdings in shares of Holley by 28.8% during the first quarter. Norden Group LLC now owns 43,694 shares of the company’s stock valued at $195,000 after purchasing an additional 9,781 shares during the last quarter. Institutional investors own 39.70% of the company’s stock.

About Holley

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.