Loar (NYSE:LOAR) Hits New 1-Year High – Here’s What Happened

Shares of Loar Holdings, LLC (NYSE:LOAR) hit a new 52-week high during trading on Monday . The stock traded as high as $96.60 and last traded at $94.32, with a volume of 34477 shares. The stock had previously closed at $94.34.

Wall Street Analysts Forecast Growth

LOAR has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Loar in a report on Thursday, November 14th. Morgan Stanley increased their price objective on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Finally, Citigroup boosted their target price on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th.

Loar Price Performance

The firm has a 50 day moving average of $80.42 and a 200-day moving average of $68.04. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Loar (NYSE:LOAR) last released its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Loar

A number of large investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new stake in shares of Loar during the 2nd quarter worth approximately $26,000. nVerses Capital LLC bought a new position in Loar in the third quarter valued at approximately $45,000. Amalgamated Bank acquired a new position in Loar during the second quarter valued at approximately $37,000. Captrust Financial Advisors lifted its stake in Loar by 9.8% during the third quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock worth $781,000 after purchasing an additional 938 shares during the last quarter. Finally, Linonia Partnership LP acquired a new stake in shares of Loar in the 2nd quarter valued at $53,000.

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.