Holley (NYSE:HLLY) Stock Rating Raised to “Strong-Buy” at Freedom Broker

Holley (NYSE:HLLY) was upgraded by equities researchers at Freedom Broker from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Holley from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Canaccord Genuity Group cut their price target on shares of Holley from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Holley in a report on Tuesday, November 3rd. Telsey Advisory Group reduced their price target on shares of Holley from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Friday, November 6th. Finally, Zacks Research cut shares of Holley from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Holley Price Performance

NYSE HLLY opened at $2.50 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.04 and a quick ratio of 1.23. The stock’s fifty day moving average price is $2.57 and its 200 day moving average price is $2.95. Holley has a 1 year low of $2.05 and a 1 year high of $4.48. The company has a market cap of $303.69 million, a price-to-earnings ratio of 16.70 and a beta of 1.44.

Holley (NYSE:HLLY) last issued its earnings results on Thursday, November 5th. The company reported $0.06 earnings per share (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 analysts’ expectations of $145.80 million. Holley had a return on equity of 9.28% and a net margin of 3.07%. As a group, equities research analysts forecast that Holley will post 0.37 earnings per share for the current year.

Hedge Funds Weigh In On Holley

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

Holley Company Profile

Holley Inc. designs, manufactures and markets performance parts and accessories for the automotive aftermarket. Its products serve enthusiasts and racers who modify, restore or compete with vehicles, including classic cars and modern performance vehicles. The company’s offerings include fuel and electronic fuel-injection systems, carburetors, ignition and engine components, intake and exhaust products, transmission and chassis parts, and automotive safety equipment. Its portfolio includes brands such as Holley, MSD, Flowmaster, Hooker, B&M and Simpson.