Holley (NYSE:HLLY) Given New $3.50 Price Target at Raymond James

Holley (NYSE:HLLY) had its target price lifted by Raymond James from $3.00 to $3.50 in a research report sent to investors on Wednesday morning,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.50 price target on shares of Holley in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $6.80.

Holley Stock Performance

Shares of Holley stock opened at $2.45 on Wednesday. The company’s 50 day moving average price is $2.89 and its two-hundred day moving average price is $2.90. The firm has a market capitalization of $292.90 million, a P/E ratio of 18.81 and a beta of 1.44. Holley has a fifty-two week low of $2.29 and a fifty-two week high of $4.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17.

Holley (NYSE:HLLY) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.09. The firm had revenue of $140.05 million during the quarter, compared to the consensus estimate of $137.60 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share. On average, equities analysts forecast that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David S. Lobel sold 1,743,356 shares of Holley stock in a transaction on Monday, December 16th. The shares were sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the completion of the transaction, the director now owns 41,556,961 shares of the company’s stock, valued at $124,670,883. This trade represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Holley

A number of hedge funds have recently bought and sold shares of HLLY. BNP Paribas Financial Markets bought a new position in Holley during the fourth quarter worth $26,000. Atria Wealth Solutions Inc. bought a new position in Holley during the fourth quarter worth $30,000. Catalyst Funds Management Pty Ltd bought a new stake in Holley in the fourth quarter valued at $31,000. Cottonwood Capital Advisors LLC bought a new stake in Holley in the fourth quarter valued at $32,000. Finally, Verition Fund Management LLC bought a new stake in Holley in the third quarter valued at $35,000. 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.