Holley’s (HLLY) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Holley (NYSE:HLLYFree Report) in a report issued on Friday morning, Benzinga reports. The firm currently has a $8.00 target price on the stock.

Several other brokerages also recently weighed in on HLLY. Telsey Advisory Group reiterated an outperform rating and issued a $6.50 price target on shares of Holley in a report on Tuesday, June 4th. Benchmark reiterated a buy rating and issued a $12.00 price target on shares of Holley in a report on Tuesday, June 18th. Finally, Truist Financial reduced their price target on Holley from $9.00 to $8.00 and set a buy rating on the stock in a report on Thursday, February 29th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Holley has an average rating of Moderate Buy and an average target price of $7.47.

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Holley Stock Performance

Shares of NYSE HLLY opened at $3.57 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.04 and a current ratio of 2.85. The business’s 50 day moving average price is $3.82 and its 200-day moving average price is $4.31. Holley has a fifty-two week low of $3.16 and a fifty-two week high of $8.06. The company has a market cap of $425.94 million, a price-to-earnings ratio of 22.31 and a beta of 1.49.

Insiders Place Their Bets

In other news, Chairman Matthew E. Rubel acquired 14,493 shares of Holley stock in a transaction on Wednesday, June 12th. The shares were bought at an average cost of $3.39 per share, for a total transaction of $49,131.27. Following the acquisition, the chairman now directly owns 169,979 shares of the company’s stock, valued at approximately $576,228.81. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new position in shares of Holley in the 1st quarter valued at $43,000. Sei Investments Co. boosted its position in shares of Holley by 1.3% in the 1st quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock worth $1,801,000 after purchasing an additional 5,000 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Holley in the 1st quarter worth $937,000. Norden Group LLC boosted its position in shares of Holley by 28.8% in the 1st quarter. Norden Group LLC now owns 43,694 shares of the company’s stock worth $195,000 after purchasing an additional 9,781 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Holley by 1.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,180,819 shares of the company’s stock worth $18,646,000 after purchasing an additional 47,070 shares in the last quarter. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

About Holley

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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.

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Analyst Recommendations for Holley (NYSE:HLLY)

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