Loar (NYSE:LOAR) Sets New 52-Week High – What’s Next?

Loar Holdings, LLC (NYSE:LOAR)’s share price reached a new 52-week high on Monday . The company traded as high as $95.16 and last traded at $91.05, with a volume of 33870 shares traded. The stock had previously closed at $88.86.

Analyst Ratings Changes

LOAR has been the topic of several recent analyst reports. Citigroup upped their target price on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Loar in a research report on Monday, October 7th. Finally, Morgan Stanley boosted their target price on shares of Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th.

Loar Trading Down 1.3 %

The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average price of $78.25 and a two-hundred day moving average price of $65.69.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $91.70 million. Loar’s revenue was up 31.2% on a year-over-year basis. Research analysts anticipate that Loar Holdings, LLC will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Loar by 52.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 106,897 shares of the company’s stock valued at $7,973,000 after buying an additional 36,701 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Loar during the third quarter valued at approximately $230,000. Lisanti Capital Growth LLC acquired a new position in Loar in the third quarter valued at approximately $2,667,000. TimesSquare Capital Management LLC boosted its position in Loar by 57.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock worth $30,620,000 after purchasing an additional 149,460 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Loar during the 3rd quarter worth approximately $45,000.

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.