Shares of Holley Inc. (NYSE:HLLY) have garnered a consensus rating of “Moderate Buy” from the seven research firms currently covering the automotive performance company, according to MarketBeat Ratings. Among these analysts, one has issued a sell recommendation, one has suggested holding the stock, while five have assigned buy ratings. The average price target set by these brokers stands at $4.50 for the next year.
A closer look at recent analyst activity reveals a positive trend for Holley. On November 10, 2023, Benchmark raised its price objective from $4.00 to $4.50 and affirmed a buy rating for the stock. Similarly, Canaccord Genuity Group reaffirmed its buy rating on December 23, 2023. Meanwhile, Telsey Advisory Group increased their price target from $3.50 to $5.00, indicating an “outperform” rating on November 7, 2023.
In contrast, Weiss Ratings issued a “sell (d)” rating on October 8, 2023, highlighting the mixed sentiment among analysts. DA Davidson also raised its price target from $3.00 to $4.50, designating a neutral rating on the same day as Benchmark.
Current Market Performance and Financials
On November 14, 2023, Holley shares opened at $4.10. The stock has exhibited volatility over the past year, reaching a low of $1.60 and a high of $4.43. Currently, Holley holds a market capitalization of $494.09 million and has a price-to-earnings ratio of -18.64. The company’s beta stands at 1.31, indicating a higher volatility than the market.
In terms of liquidity, Holley reports a current ratio of 2.78 and a quick ratio of 1.06. The debt-to-equity ratio is recorded at 1.20, reflecting the company’s financial leverage strategies.
Holley’s latest quarterly earnings report, released on November 7, 2023, showed earnings per share (EPS) of $0.03, falling short of analysts’ expectations of $0.04 by $0.01. The company reported a revenue of $138.37 million, surpassing analyst estimates of $132.36 million. Analysts anticipate an EPS of $0.12 for the current fiscal year, indicating potential growth for the company.
Company Overview and Product Offerings
Holley Inc. specializes in the design, manufacture, and marketing of high-performance automotive products aimed at the enthusiast market. Their product range includes fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls, and other accessories tailored for both street and competitive racing applications.
Holley’s extensive portfolio of well-known brands allows it to cater to a diverse customer base, including professional race teams and automotive hobbyists. The company’s offerings encompass mechanical and electronic fuel injection, carburetion, engine management, add-on power systems, and calibration tools.
As Holley continues to navigate the market, analysts’ insights and financial indicators will play a crucial role in shaping investor sentiment and strategic decisions moving forward.
