Loar (NYSE:LOAR) Sets New 1-Year High - Here's What Happened

Loar Holdings, LLC (NYSE:LOAR - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $85.74 and last traded at $85.00, with a volume of 18743 shares changing hands. The stock had previously closed at $84.58.

Analysts Set New Price Targets

A number of research analysts have issued reports on LOAR shares. Royal Bank of Canada reissued an "outperform" rating and issued a $80.00 price target on shares of Loar in a report on Monday, October 7th. Citigroup increased their price target on shares of Loar from $64.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Finally, Morgan Stanley lifted their price objective on shares of Loar from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, October 18th.

Loar Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09. The company's 50-day moving average is $74.54.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) 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. Loar's quarterly revenue was up 31.2% compared to the same quarter last year. As a group, sell-side analysts predict that Loar Holdings, LLC will post 0.37 EPS for the current fiscal year.

Institutional Trading of Loar

A number of institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC acquired a new position in shares of Loar in the third quarter worth $45,000. Seven Grand Managers LLC grew its stake in Loar by 33.3% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company's stock worth $7,459,000 after purchasing an additional 25,000 shares in the last quarter. Renaissance Capital LLC increased its holdings in Loar by 22.4% during the 3rd quarter. Renaissance Capital LLC now owns 11,392 shares of the company's stock worth $850,000 after purchasing an additional 2,083 shares during the period. Quent Capital LLC purchased a new position in shares of Loar in the 3rd quarter valued at about $236,000. Finally, Ghisallo Capital Management LLC acquired a new position in shares of Loar during the second quarter worth about $534,000.

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.