Loar (NYSE:LOAR) Sets New 12-Month High – Here’s Why

Loar Holdings, LLC (NYSE:LOAR) reached a new 52-week high during mid-day 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

Several analysts recently issued reports on LOAR shares. Citigroup raised their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their target price on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Loar in a research note on Thursday, November 14th.

Loar Trading Down 3.2 %

The business has a fifty day simple moving average of $80.14 and a two-hundred day simple moving average of $67.74. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LOAR. Arcadia Investment Management Corp MI purchased a new stake in shares of Loar in the 2nd quarter worth approximately $26,000. nVerses Capital LLC purchased a new stake in shares of Loar in the 3rd quarter worth approximately $45,000. Amalgamated Bank purchased a new stake in shares of Loar in the 2nd quarter worth approximately $37,000. Captrust Financial Advisors grew its stake in shares of Loar by 9.8% in the 3rd quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock worth $781,000 after buying an additional 938 shares during the last quarter. Finally, Linonia Partnership LP purchased a new stake in shares of Loar in the 2nd quarter worth approximately $53,000.

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.