Telsey Advisory Group Reaffirms “Outperform” Rating for Holley (NYSE:HLLY)

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

Holley Trading Up 0.7 %

Holley stock opened at $3.04 on Wednesday. The firm has a 50-day moving average of $2.82 and a 200-day moving average of $3.09. Holley has a one year low of $2.29 and a one year high of $5.23. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. The company has a market cap of $364.18 million, a price-to-earnings ratio of 23.38 and a beta of 1.42.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $142.53 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The company’s quarterly revenue was down 14.4% on a year-over-year basis. On average, equities analysts expect that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Activity at Holley

In related news, Director David S. Lobel sold 1,743,356 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 41,556,961 shares in the company, valued at approximately $124,670,883. This trade represents a 4.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Holley

Several hedge funds have recently bought and sold shares of HLLY. Vanguard Personalized Indexing Management LLC bought a new position in Holley in the 2nd quarter valued at about $42,000. Verition Fund Management LLC bought a new position in Holley in the 3rd quarter valued at about $35,000. Intech Investment Management LLC bought a new position in Holley in the 3rd quarter valued at about $41,000. SG Americas Securities LLC bought a new position in Holley in the 3rd quarter valued at about $52,000. Finally, Virtu Financial LLC bought a new position in Holley in the 3rd quarter valued at about $54,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

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.