Holley (NYSE:HLLY) Given “Buy” Rating at Benchmark

Benchmark reissued their buy rating on shares of Holley (NYSE:HLLY) in a report released on Wednesday, Benzinga reports. Benchmark currently has a $12.00 price target on the stock.

A number of other equities analysts have also recently commented on HLLY. Raymond James decreased their price target on Holley from $5.25 to $4.25 and set an outperform rating on the stock in a research note on Thursday, August 8th. Telsey Advisory Group reduced their target price on Holley from $6.50 to $5.50 and set an outperform rating on the stock in a research note on Wednesday, August 7th. Canaccord Genuity Group reduced 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, Truist Financial reduced 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 analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $6.54.

Holley Price Performance

Shares of Holley stock opened at $3.09 on Wednesday. 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’s 50 day simple moving average is $3.42 and its two-hundred day simple moving average is $3.81. The stock has a market capitalization of $368.67 million, a P/E ratio of 19.31 and a beta of 1.44. Holley has a one year low of $2.94 and a one year high of $5.67.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $169.50 million for the quarter, compared to analysts’ expectations of $170.40 million. Holley had a return on equity of 3.51% and a net margin of 3.56%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. Analysts forecast that Holley will post 0.19 EPS for the current year.

Insider Activity at Holley

In other news, Chairman Matthew E. Rubel acquired 14,493 shares of Holley stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average price of $3.39 per share, for a total transaction of $49,131.27. Following the completion of the transaction, the chairman now owns 169,979 shares in the company, valued at $576,228.81. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is owned by company insiders.

Institutional Trading of Holley

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Algert Global LLC boosted its stake in shares of Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after acquiring an additional 4,924 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Holley by 3.3% in the second quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock worth $490,000 after acquiring an additional 4,413 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of Holley in the second quarter worth about $42,000. Renaissance Technologies LLC boosted its stake in shares of Holley by 665.2% in the second quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock worth $471,000 after acquiring an additional 114,314 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Holley by 52.3% in the second 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. Hedge funds and other 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.