Benchmark Cuts Holley (NYSE:HLLY) Price Target to $4.00

Holley (NYSE:HLLY) had its target price cut by Benchmark from $4.50 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 42.10% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Canaccord Genuity Group cut their price objective on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday. Weiss Ratings lowered Holley from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. Raymond James Financial set a $4.00 price objective on Holley in a research report on Thursday. Telsey Advisory Group reiterated an “outperform” rating and issued a $5.00 price objective on shares of Holley in a research report on Thursday, March 5th. Finally, DA Davidson set a $4.50 price objective on Holley in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Holley presently has an average rating of “Moderate Buy” and an average target price of $4.90.

Holley Trading Up 11.3%

Shares of HLLY stock traded up $0.29 during trading hours on Friday, reaching $2.82. The company’s stock had a trading volume of 1,115,560 shares, compared to its average volume of 802,751. The stock has a market capitalization of $340.45 million, a P/E ratio of 14.82 and a beta of 1.40. Holley has a one year low of $1.74 and a one year high of $4.48. The firm’s fifty day simple moving average is $3.23 and its 200 day simple moving average is $3.68. The company has a current ratio of 2.75, a quick ratio of 0.96 and a debt-to-equity ratio of 1.15.

Holley (NYSE:HLLY) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $147.33 million for the quarter, compared to analyst estimates of $152.06 million. Holley had a return on equity of 5.51% and a net margin of 3.89%. Equities research analysts expect that Holley will post 0.33 EPS for the current year.

Institutional Investors Weigh In On Holley

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Holley by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,823,903 shares of the company’s stock valued at $30,749,000 after purchasing an additional 122,331 shares in the last quarter. Boston Partners boosted its position in shares of Holley by 59.2% during the third quarter. Boston Partners now owns 7,652,545 shares of the company’s stock valued at $24,028,000 after purchasing an additional 2,845,009 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of Holley during the third quarter valued at approximately $18,762,000. Blue Owl Capital Holdings LP boosted its position in shares of Holley by 18.2% during the third quarter. Blue Owl Capital Holdings LP now owns 4,862,361 shares of the company’s stock valued at $15,268,000 after purchasing an additional 750,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Holley by 3.1% during the third quarter. Vanguard Group Inc. now owns 3,677,058 shares of the company’s stock valued at $11,546,000 after purchasing an additional 110,170 shares in the last quarter. 39.70% of the stock is currently owned by institutional investors.

Holley Company Profile

Holley Inc is a designer, manufacturer and marketer of high?performance automotive products for the enthusiast market. Through its portfolio of well?known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine?dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add?on power systems and calibration tools.