Holley (NYSE:HLLY) Cut to Hold at Wall Street Zen

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

HLLY has been the topic of a number of other research reports. Canaccord Genuity Group cut their price target on Holley from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday. DA Davidson set a $3.00 price objective on Holley in a research note on Friday. Freedom Capital lowered Holley from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a report on Tuesday, November 3rd. Finally, Zacks Research lowered Holley from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Holley currently has a consensus rating of “Hold” and a consensus price target of $4.00.

Holley Trading Up 24.5%

HLLY stock opened at $2.62 on Friday. The company has a market cap of $317.02 million, a P/E ratio of 17.43 and a beta of 1.44. Holley has a twelve month low of $2.05 and a twelve month high of $4.48. The company has a quick ratio of 1.39, a current ratio of 3.06 and a debt-to-equity ratio of 1.15. The business has a fifty day moving average of $2.58 and a 200-day moving average of $2.97.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $141.56 million during the quarter, compared to analyst estimates of $145.80 million. Holley had a return on equity of 8.41% and a net margin of 1.68%. As a group, equities research analysts expect that Holley will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new position in shares of Holley during the second quarter worth about $4,638,000. BlackRock Inc. bought a new position in shares of Holley during the second quarter worth about $14,361,000. Blue Owl Capital Holdings LP bought a new stake in Holley in the 2nd quarter valued at approximately $11,161,000. Dimensional Fund Advisors LP grew its stake in shares of Holley by 25.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,447,266 shares of the company’s stock worth $7,512,000 after acquiring an additional 495,923 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Holley in the second quarter valued at approximately $1,499,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc is an automotive aftermarket company that designs, manufactures and distributes performance products for cars, trucks, powersports vehicles and other enthusiast applications. Its offerings include fuel systems, engine and ignition components, exhaust products, suspension and driveline components, electronic controls, vehicle accessories and safety equipment.

The company serves do-it-yourself consumers, professional installers, racing teams, automotive enthusiasts and original equipment manufacturers through a portfolio of established aftermarket brands.