Telsey Advisory Group Cuts Holley (NYSE:HLLY) Price Target to $4.50

Holley (NYSE:HLLY) had its target price reduced by Telsey Advisory Group from $5.50 to $4.50 in a report issued on Monday morning, MarketBeat.com reports. They currently have an outperform rating on the stock. Telsey Advisory Group also issued estimates for Holley’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.12 EPS, Q3 2025 earnings at $0.02 EPS, Q4 2025 earnings at $0.06 EPS and FY2025 earnings at $0.27 EPS.

A number of other brokerages have also issued reports on HLLY. Raymond James reduced their target price on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Holley in a research report on Wednesday, September 4th. Canaccord Genuity Group dropped their target price on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Truist Financial decreased their price target on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Holley has a consensus rating of “Moderate Buy” and an average target price of $6.39.

Holley Stock Performance

NYSE:HLLY opened at $2.73 on Monday. Holley has a 12-month low of $2.29 and a 12-month high of $5.23. The company has a quick ratio of 1.19, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $2.91 and a 200 day moving average price of $3.34. The firm has a market capitalization of $327.00 million, a PE ratio of 21.00 and a beta of 1.45.

Holley (NYSE:HLLY) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $134.00 million for the quarter, compared to the consensus estimate of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The firm’s revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. Research analysts anticipate that Holley will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Holley

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new stake in shares of Holley in the 3rd quarter valued at approximately $41,000. Vanguard Personalized Indexing Management LLC bought a new stake in Holley in the second quarter valued at approximately $42,000. Lazard Asset Management LLC acquired a new stake in Holley in the first quarter worth $43,000. SG Americas Securities LLC acquired a new stake in Holley in the third quarter worth $52,000. Finally, Algert Global LLC boosted its position in shares of Holley by 31.1% during the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after purchasing an additional 4,924 shares in the last quarter. Institutional investors own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners, automotive performance plumbing products; and exhaust products, as well as shifters, converters, transmission kits, transmissions, tuners, and automotive software.