Loar Holdings, LLC (NYSE:LOAR – Get Free Report) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,180,000 shares, a decline of 15.7% from the July 15th total of 1,400,000 shares. Based on an average daily trading volume, of 285,700 shares, the short-interest ratio is currently 4.1 days. Currently, 1.7% of the company’s shares are sold short.
Loar Trading Down 2.1 %
Loar stock traded down $1.64 during mid-day trading on Friday, reaching $75.04. 149,579 shares of the company traded hands, compared to its average volume of 319,113. The company has a current ratio of 3.09, a quick ratio of 1.68 and a debt-to-equity ratio of 1.26. Loar has a fifty-two week low of $42.57 and a fifty-two week high of $76.94. The company has a fifty day moving average price of $59.28.
Loar (NYSE:LOAR – Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $91.70 million. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. Analysts predict that Loar will post 0.5 EPS for the current year.
Institutional Trading of Loar
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on LOAR shares. Royal Bank of Canada boosted their price target on shares of Loar from $65.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup started coverage on shares of Loar in a report on Monday, May 20th. They issued a “buy” rating and a $64.00 price target for the company. Morgan Stanley boosted their price target on shares of Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Jefferies Financial Group started coverage on shares of Loar in a report on Monday, June 3rd. They issued a “buy” rating and a $65.00 price target for the company.
Get Our Latest Stock Analysis on Loar
About Loar
Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.
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