Holley (NYSE:HLLY) Stock Bumped Down to Hold by Zacks Research

Zacks Research cut shares of Holley (NYSE:HLLY) from a strong-buy rating to a hold rating in a report released on Monday,Zacks reports.

A number of other equities research analysts have also commented on the stock. Weiss Ratings lowered shares of Holley from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Freedom Capital lowered Holley from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price target on shares of Holley in a research note on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Holley currently has an average rating of “Hold” and a consensus target price of $4.90.

Holley Trading Up 0.7%

NYSE HLLY opened at $2.31 on Monday. The business’s 50-day moving average price is $2.80 and its two-hundred day moving average price is $2.78. Holley has a 12 month low of $2.25 and a 12 month high of $4.48. The firm has a market capitalization of $279.44 million, a PE ratio of 28.81 and a beta of 1.39. 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 (NYSE:HLLY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. Holley had a return on equity of 8.41% and a net margin of 1.68%.The company had revenue of $172.01 million during the quarter, compared to the consensus estimate of $172.63 million. On average, analysts expect that Holley will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Holley

Several large investors have recently added to or reduced their stakes in HLLY. Allspring Global Investments Holdings LLC boosted its holdings in Holley by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,823,903 shares of the company’s stock worth $30,749,000 after acquiring an additional 122,331 shares during the last quarter. BlackRock Inc. bought a new position in shares of Holley during the 2nd quarter worth approximately $14,361,000. Wasatch Advisors LP grew its holdings in shares of Holley by 35.1% in the second quarter. Wasatch Advisors LP now owns 4,887,038 shares of the company’s stock valued at $12,462,000 after acquiring an additional 1,269,256 shares in the last quarter. Blue Owl Capital Holdings LP bought a new stake in Holley during the second quarter worth $11,161,000. Finally, Bamco Inc. NY purchased a new position in Holley in the second quarter worth $8,288,000. Institutional investors own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc (NYSE:HLLY) is an automotive aftermarket company that develops, manufactures and distributes performance products for enthusiasts, racers and professional automotive customers. Its offerings are designed for street performance, racing, off-road applications and vehicle restoration.

The company’s product portfolio includes fuel systems, electronic fuel injection and engine-management systems, ignition products, exhaust components, intake systems, engine parts, suspension products, wheels, safety equipment and related accessories.