Holley (NYSE:HLLY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Holley (NYSE:HLLY) from a hold rating to a buy rating in a research note published on Saturday.

Several other equities research analysts also recently commented on the stock. Weiss Ratings downgraded shares of Holley from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Raymond James Financial set a $4.00 price target on shares of Holley in a research report on Thursday, May 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price target on shares of Holley in a report on Monday, June 29th. Benchmark lowered their price objective on shares of Holley from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Freedom Capital raised Holley to a “strong-buy” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.90.

Holley Price Performance

Shares of HLLY opened at $3.17 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.39 and a debt-to-equity ratio of 1.15. Holley has a 1 year low of $2.33 and a 1 year high of $4.48. The stock has a market cap of $385.03 million, a P/E ratio of 39.62 and a beta of 1.31. The stock’s 50-day moving average price is $2.61 and its two-hundred day moving average price is $3.10.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $172.01 million during the quarter, compared to analysts’ expectations of $172.63 million. Holley had a return on equity of 8.41% and a net margin of 1.68%. On average, equities analysts predict that Holley will post 0.39 earnings per share for the current year.

Holley announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 26th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HLLY. State of Alaska Department of Revenue bought a new stake in shares of Holley during the fourth quarter worth $35,000. Chicago Partners Investment Group LLC bought a new stake in Holley in the 1st quarter valued at $35,000. Schonfeld Strategic Advisors LLC acquired a new position in Holley in the 3rd quarter worth $34,000. Sherbrooke Park Advisers LLC acquired a new position in Holley in the 3rd quarter worth $38,000. Finally, Cerity Partners LLC bought a new position in Holley during the 2nd quarter worth about $25,000. Institutional investors own 39.70% of the company’s stock.

About Holley

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.