Holley Inc. (NYSE:HLLY) Receives $7.47 Average PT from Analysts

Shares of Holley Inc. (NYSE:HLLY) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $7.00.

Several equities analysts have commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday. Telsey Advisory Group reduced their price target on shares of Holley from $6.50 to $5.50 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial reduced their target price on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James decreased their price target on Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a research note on Thursday. Finally, Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Holley in a research report on Monday, August 5th.

Holley Stock Performance

Shares of HLLY stock opened at $2.98 on Monday. The firm has a market cap of $354.95 million, a PE ratio of 18.59 and a beta of 1.47. The company’s fifty day simple moving average is $3.57 and its 200-day simple moving average is $4.06. The company has a quick ratio of 1.04, a current ratio of 2.85 and a debt-to-equity ratio of 1.26. Holley has a 12 month low of $2.94 and a 12 month high of $8.06.

Insider Activity

In related news, Chairman Matthew E. Rubel bought 14,493 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were acquired at an average cost of $3.39 per share, with a total value of $49,131.27. Following the completion of the purchase, the chairman now directly owns 169,979 shares of the company’s stock, valued at approximately $576,228.81. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Holley

A number of hedge funds and other institutional investors have recently modified their holdings of HLLY. Lazard Asset Management LLC bought a new position in shares of Holley in the first quarter worth approximately $43,000. Tower Research Capital LLC TRC lifted its position in shares of Holley by 410.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company’s stock worth $66,000 after purchasing an additional 10,867 shares during the period. SYSTM Wealth Solutions LLC bought a new position in Holley in the first quarter worth about $90,000. SG Americas Securities LLC raised its position in shares of Holley by 75.7% in the 4th quarter. SG Americas Securities LLC now owns 28,577 shares of the company’s stock worth $139,000 after acquiring an additional 12,309 shares in the last quarter. Finally, Norden Group LLC boosted its position 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 in 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.