Loar (NYSE:LOAR) Stock Price Up 8.9% – What’s Next?

Loar Holdings, LLC (NYSE:LOAR)’s share price rose 8.9% during trading on Tuesday . The company traded as high as $79.24 and last traded at $78.23. Approximately 195,378 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 413,617 shares. The stock had previously closed at $71.85.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LOAR. Royal Bank of Canada restated an “outperform” rating and set a $92.00 target price on shares of Loar in a research note on Tuesday, April 1st. Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price objective for the company in a research report on Thursday, April 3rd.

Loar Trading Up 0.9 %

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 firm has a market cap of $8.07 billion and a P/E ratio of 359.36. The company’s 50 day moving average is $70.81 and its two-hundred day moving average is $77.11.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. Loar’s revenue was up 27.8% on a year-over-year basis. On average, sell-side analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Institutional Trading of Loar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its holdings in Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 293 shares in the last quarter. Corebridge Financial Inc. boosted its stake in Loar by 174.3% in the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after buying an additional 333 shares in the last quarter. State of Wyoming acquired a new stake in Loar in the 4th quarter valued at $53,000. Arcadia Investment Management Corp MI bought a new stake in Loar in the fourth quarter valued at $61,000. Finally, Gen Wealth Partners Inc acquired a new position in Loar during the fourth quarter worth $62,000.

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.