Holley’s (HLLY) “Buy” Rating Reaffirmed at Benchmark

Holley (NYSE:HLLY)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $12.00 target price on the stock. Benchmark’s price objective indicates a potential upside of 167.86% from the company’s current price.

A number of other research analysts also recently issued reports on HLLY. JPMorgan Chase & Co. downgraded shares of Holley from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $6.50 to $5.00 in a research note on Tuesday, February 20th. Telsey Advisory Group reiterated an “outperform” rating and issued a $9.00 price target on shares of Holley in a research note on Thursday, February 29th. Truist Financial lowered their target price on shares of Holley from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, Canaccord Genuity Group lowered their target price on shares of Holley from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Holley Stock Performance

Shares of HLLY stock traded up $0.03 during trading hours on Thursday, hitting $4.48. The company’s stock had a trading volume of 39,963 shares, compared to its average volume of 302,017. The company has a 50 day moving average of $4.57 and a 200 day moving average of $4.56. The stock has a market cap of $531.18 million, a PE ratio of 26.59 and a beta of 1.52. The company has a current ratio of 3.17, a quick ratio of 1.12 and a debt-to-equity ratio of 1.31. Holley has a 12-month low of $2.08 and a 12-month high of $8.06.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Holley had a net margin of 2.91% and a return on equity of 5.77%. The business had revenue of $155.70 million for the quarter, compared to the consensus estimate of $153.26 million. During the same period last year, the firm posted ($0.19) earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Holley will post 0.33 EPS for the current fiscal year.

Insider Activity at Holley

In other news, Director Graham Clempson bought 59,076 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $4.18 per share, for a total transaction of $246,937.68. Following the completion of the purchase, the director now owns 63,851 shares of the company’s stock, valued at approximately $266,897.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Holley

Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in shares of Holley by 132.8% during the second quarter. PNC Financial Services Group Inc. now owns 6,061 shares of the company’s stock worth $25,000 after purchasing an additional 3,457 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Holley in the first quarter valued at about $28,000. Barclays PLC boosted its holdings in Holley by 533.4% in the fourth quarter. Barclays PLC now owns 13,808 shares of the company’s stock valued at $29,000 after acquiring an additional 11,628 shares during the last quarter. Cibc World Market Inc. bought a new position in Holley in the second quarter valued at about $41,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Holley by 148.0% in the third quarter. Tower Research Capital LLC TRC now owns 11,693 shares of the company’s stock valued at $48,000 after acquiring an additional 6,978 shares during the last quarter. Institutional investors own 39.70% of the company’s stock.

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.