Loar Holdings, LLC (NYSE:LOAR - Get Free Report)'s share price shot up 2.8% during trading on Monday . The stock traded as high as $69.00 and last traded at $67.83. 201,239 shares were traded during trading, a decline of 50% from the average session volume of 405,023 shares. The stock had previously closed at $65.97.
Analyst Ratings Changes
A number of research firms have recently weighed in on LOAR. Morgan Stanley raised shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 target price on the stock in a research report on Thursday. Royal Bank of Canada reissued an "outperform" rating and set a $92.00 price objective on shares of Loar in a research note on Tuesday.
View Our Latest Stock Analysis on Loar
Loar Stock Performance
The company has a fifty day simple moving average of $70.99 and a 200 day simple moving average of $76.95. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78.
Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The company's revenue for the quarter was up 27.8% on a year-over-year basis. On average, research analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current year.
Institutional Investors Weigh In On Loar
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Loar by 132.4% in the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company's stock worth $201,133,000 after acquiring an additional 1,550,581 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Loar by 159.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company's stock worth $78,827,000 after purchasing an additional 656,016 shares during the last quarter. Wasatch Advisors LP purchased a new position in shares of Loar in the fourth quarter worth $40,347,000. Lord Abbett & CO. LLC lifted its holdings in shares of Loar by 71.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company's stock valued at $75,303,000 after purchasing an additional 421,637 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Loar during the fourth quarter valued at $30,326,000.
About Loar
(
Get Free Report)
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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