Loar (NYSE:LOAR) Sees Unusually-High Trading Volume – Time to Buy?

Loar Holdings, LLC (NYSE:LOAR) shares saw unusually-high trading volume on Wednesday . Approximately 853,463 shares traded hands during mid-day trading, an increase of 180% from the previous session’s volume of 304,526 shares.The stock last traded at $85.72 and had previously closed at $87.69.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Citigroup lifted their price objective on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Loar in a report on Thursday, November 14th.

Loar Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The business’s 50-day moving average price is $83.88 and its two-hundred day moving average price is $71.02.

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

Institutional Trading of Loar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOAR. TCW Group Inc. acquired a new stake in shares of Loar in the second quarter worth approximately $7,366,000. Zweig DiMenna Associates LLC acquired a new position in shares of Loar in the 2nd quarter valued at $9,208,000. Calamos Advisors LLC purchased a new stake in shares of Loar during the 2nd quarter valued at $492,000. Bank of New York Mellon Corp acquired a new stake in shares of Loar during the 2nd quarter worth $439,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Loar in the 2nd quarter worth $155,000.

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.