Holley (NYSE:HLLY) Upgraded at Freedom Broker

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

HLLY has been the topic of several other reports. Zacks Research lowered shares of Holley from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Wall Street Zen cut Holley from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Telsey Advisory Group cut their price target on Holley from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Friday, November 6th. Freedom Capital cut Holley from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Holley in a report on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Holley presently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Holley Stock Performance

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

Holley (NYSE:HLLY) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $141.56 million for the quarter, compared to analyst estimates of $145.80 million. Holley had a net margin of 3.07% and a return on equity of 9.28%. Equities research analysts anticipate that Holley will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Holley

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in Holley by 38.9% during the third quarter. Russell Investments Group Ltd. now owns 2,203,493 shares of the company’s stock worth $5,200,000 after acquiring an additional 617,178 shares during the period. Ritholtz Wealth Management purchased a new position in Holley during the third quarter valued at $96,000. Penn Capital Management Company LLC grew its position in shares of Holley by 134.4% in the third quarter. Penn Capital Management Company LLC now owns 577,427 shares of the company’s stock valued at $1,363,000 after purchasing an additional 331,067 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Holley by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,066,406 shares of the company’s stock valued at $23,958,000 after purchasing an additional 258,955 shares during the period. Finally, Skylands Capital LLC grew its position in shares of Holley by 2.1% in the third quarter. Skylands Capital LLC now owns 1,092,212 shares of the company’s stock valued at $2,578,000 after purchasing an additional 22,383 shares during the period. Institutional investors and hedge funds 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.