Loar (NYSE:LOAR) Shares Up 8.9% - Should You Buy?

Loar Holdings, LLC (NYSE:LOAR - Get Free Report) shot up 8.9% on Tuesday . The company traded as high as $79.24 and last traded at $78.23. 195,378 shares changed hands during trading, a decline of 53% from the average session volume of 413,617 shares. The stock had previously closed at $71.85.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley upgraded Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target for the company in a research note on Thursday, April 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st.

Loar Trading Up 2.4 %

The company has a market capitalization of $8.23 billion and a price-to-earnings ratio of 366.47. The firm has a fifty day moving average price of $71.03 and a 200-day moving average price of $77.20. 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 (NYSE:LOAR - Get Free Report) last released its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. Loar's quarterly revenue was up 27.8% on a year-over-year basis. As a group, equities analysts anticipate that Loar Holdings, LLC will post 0.28 EPS for the current year.

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Institutional Investors Weigh In On Loar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its holdings in shares of Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after buying an additional 293 shares in the last quarter. Corebridge Financial Inc. raised its stake in Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock worth $39,000 after acquiring an additional 333 shares in the last quarter. State of Wyoming bought a new position in shares of Loar in the fourth quarter worth about $53,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Loar in the 4th quarter valued at approximately $61,000. Finally, Gen Wealth Partners Inc bought a new stake in shares of Loar during the 4th quarter valued at approximately $62,000.

About Loar

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.