Short Interest in Loar Holdings, LLC (NYSE:LOAR) Declines By 15.7%

Loar Holdings, LLC (NYSE:LOAR) 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) 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

A number of hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in Loar during the second quarter worth $26,000. Amalgamated Bank purchased a new position in Loar during the second quarter valued at $37,000. Linonia Partnership LP purchased a new position in Loar during the second quarter valued at $53,000. RiverPark Advisors LLC purchased a new position in Loar during the second quarter valued at $155,000. Finally, WINTON GROUP Ltd purchased a new position in Loar during the second quarter valued at $205,000.

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.

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.