Loar Holdings, LLC (NYSE:LOAR) Short Interest Up 39.5% in March

Loar Holdings, LLC (NYSE:LOAR - Get Free Report) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,330,000 shares, an increase of 39.5% from the February 28th total of 1,670,000 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average trading volume of 455,800 shares, the short-interest ratio is presently 5.1 days.

Analysts Set New Price Targets

LOAR has been the subject of several research reports. Morgan Stanley raised shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective for the company in a report on Thursday. Royal Bank of Canada restated an "outperform" rating and set a $92.00 price target on shares of Loar in a report on Tuesday.

Loar Stock Performance

Shares of Loar stock traded down $2.90 during trading hours on Thursday, reaching $73.95. The company's stock had a trading volume of 86,229 shares, compared to its average volume of 408,841. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar has a one year low of $42.57 and a one year high of $96.99. The firm has a 50 day moving average price of $70.99 and a 200-day moving average price of $76.95.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $110.40 million for the quarter, compared to analysts' expectations of $102.51 million. The business's revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts anticipate that Loar will post 0.28 EPS for the current fiscal year.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LOAR. California State Teachers Retirement System lifted its holdings in shares of Loar by 184.3% in the 4th quarter. California State Teachers Retirement System now owns 2,226 shares of the company's stock worth $165,000 after acquiring an additional 1,443 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Loar during the fourth quarter valued at approximately $2,978,000. Polar Asset Management Partners Inc. grew its stake in shares of Loar by 343.9% during the fourth quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company's stock valued at $1,345,000 after buying an additional 14,100 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Loar by 950.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 40,299 shares of the company's stock valued at $2,978,000 after buying an additional 36,463 shares during the last quarter. Finally, Woodline Partners LP lifted its stake in shares of Loar by 156.0% during the 4th quarter. Woodline Partners LP now owns 83,928 shares of the company's stock worth $6,203,000 after acquiring an additional 51,149 shares during the last quarter.

Loar Company Profile

Loar Holdings Inc, through its subsidiaries, designs, manufactures, and markets aerospace and defense components for aircraft, and aerospace and defense systems in the United States and internationally. It offers products in various categories, which include airframe components, structural components, avionics, composites, braking system components, de-ice and ice protection, electro-mechanical, engineered materials, flight controls, fluid and motion controls, environmental, metal forming, molded components, and restraints and safety devices.