Loar Holdings, LLC (NYSE:LOAR - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $95.16 and last traded at $91.05, with a volume of 33870 shares changing hands. The stock had previously closed at $88.86.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on LOAR. Citigroup lifted their price objective on Loar from $64.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. Morgan Stanley lifted their price objective on Loar from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $80.00 price objective on shares of Loar in a research note on Monday, October 7th.
View Our Latest Stock Report on Loar
Loar Price Performance
The firm has a 50 day moving average of $77.84 and a two-hundred day moving average of $65.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.09 and a current ratio of 4.86.
Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The firm had revenue of $97.10 million during the quarter, compared to analysts' expectations of $91.70 million. The company's quarterly revenue was up 31.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Loar Holdings, LLC will post 0.37 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Loar
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in Loar in the second quarter valued at approximately $26,000. nVerses Capital LLC acquired a new position in shares of Loar in the third quarter valued at approximately $45,000. Amalgamated Bank acquired a new position in shares of Loar in the second quarter valued at approximately $37,000. Linonia Partnership LP acquired a new position in shares of Loar in the second quarter valued at approximately $53,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Loar in the second quarter valued at approximately $155,000.
About Loar
(
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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.
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