Holley (NYSE:HLLY) Given New $7.00 Price Target at Canaccord Genuity Group

Holley (NYSE:HLLY) had its price target cut by Canaccord Genuity Group from $8.00 to $7.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on HLLY. Benchmark reiterated a buy rating and set a $12.00 price objective on shares of Holley in a research note on Monday. Telsey Advisory Group reaffirmed an outperform rating and issued a $6.50 price objective on shares of Holley in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $7.00.

Holley Stock Performance

Shares of HLLY traded down $0.17 during trading hours on Thursday, reaching $2.98. 937,315 shares of the company’s stock traded hands, compared to its average volume of 345,641. The firm has a market capitalization of $354.95 million, a price-to-earnings ratio of 18.59 and a beta of 1.47. The business’s fifty day simple moving average is $3.57 and its two-hundred day simple moving average is $4.06. Holley has a twelve month low of $2.94 and a twelve month high of $8.06. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.85 and a quick ratio of 1.04.

Insiders Place Their Bets

In other Holley news, Chairman Matthew E. Rubel bought 14,493 shares of Holley stock in a transaction dated Wednesday, June 12th. The stock was bought at an average price of $3.39 per share, for a total transaction of $49,131.27. Following the completion of the acquisition, the chairman now directly owns 169,979 shares of the company’s stock, valued at $576,228.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Holley

A number of large investors have recently made changes to their positions in the business. Lazard Asset Management LLC purchased a new position in Holley during the first quarter valued at approximately $43,000. Tower Research Capital LLC TRC increased its stake in shares of Holley by 410.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company’s stock worth $66,000 after acquiring an additional 10,867 shares during the last quarter. SYSTM Wealth Solutions LLC purchased a new stake in shares of Holley during the first quarter worth $90,000. SG Americas Securities LLC boosted its position in Holley by 75.7% during the fourth quarter. SG Americas Securities LLC now owns 28,577 shares of the company’s stock valued at $139,000 after purchasing an additional 12,309 shares during the last quarter. Finally, Norden Group LLC grew its stake in Holley by 28.8% in the first quarter. Norden Group LLC now owns 43,694 shares of the company’s stock valued at $195,000 after purchasing an additional 9,781 shares in the last quarter. Institutional investors and hedge funds 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.