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

Holley (NYSE:HLLY)‘s stock had its “outperform” rating reissued by equities research analysts at Telsey Advisory Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $4.50 price target on the stock. Telsey Advisory Group’s target price points to a potential upside of 48.03% from the company’s current price.

Holley Stock Up 0.7 %

Shares of HLLY opened at $3.04 on Wednesday. Holley has a 12 month low of $2.29 and a 12 month high of $5.23. The firm’s 50 day moving average is $2.82 and its 200-day moving average is $3.09. The stock has a market capitalization of $364.18 million, a PE ratio of 23.38 and a beta of 1.42. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20.

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

Insider Activity at Holley

In related news, Director David S. Lobel sold 1,743,356 shares of Holley 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 transaction, the director now directly owns 41,556,961 shares of the company’s stock, valued at $124,670,883. This trade represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HLLY. Verition Fund Management LLC bought a new position in Holley in the third quarter valued at approximately $35,000. Intech Investment Management LLC acquired a new stake in Holley in the third quarter valued at approximately $41,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Holley in the second quarter valued at approximately $42,000. SG Americas Securities LLC acquired a new stake in Holley in the third quarter valued at approximately $52,000. Finally, Virtu Financial LLC acquired a new stake in Holley in the third quarter valued at approximately $54,000. 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.