Analysts Set Holley Inc. (NYSE:HLLY) Target Price at $6.63

Holley Inc. (NYSE:HLLY) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.63.

Several research analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $12.00 price objective on shares of Holley in a report on Wednesday, September 4th. Telsey Advisory Group decreased their target price on shares of Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Monday, November 11th.

Holley Stock Down 3.1 %

Holley stock opened at $2.77 on Friday. Holley has a 12 month low of $2.29 and a 12 month high of $5.23. The stock has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $3.17. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The firm has a market cap of $331.84 million, a price-to-earnings ratio of 21.31 and a beta of 1.47.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Holley during the 2nd quarter valued at $42,000. Verition Fund Management LLC bought a new stake in Holley during the third quarter valued at about $35,000. Intech Investment Management LLC purchased a new stake in Holley in the third quarter worth about $41,000. SG Americas Securities LLC bought a new position in shares of Holley in the third quarter worth about $52,000. Finally, Virtu Financial LLC bought a new position in shares of Holley during the 3rd quarter valued at approximately $54,000. 39.70% of the stock is currently owned by institutional investors.

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.