Loar (NYSE:LOAR) Hits New 12-Month High – Should You Buy?

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

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

Loar Stock Performance

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

Loar (NYSE:LOAR) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. The firm’s quarterly revenue 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.

Hedge Funds Weigh In On Loar

Several hedge funds and other institutional investors have recently made changes to their positions in LOAR. Arcadia Investment Management Corp MI acquired a new stake in Loar in the 2nd quarter valued at about $26,000. nVerses Capital LLC acquired a new stake in shares of Loar in the third quarter valued at approximately $45,000. Amalgamated Bank bought a new position in shares of Loar during the 2nd quarter worth approximately $37,000. Linonia Partnership LP acquired a new position in shares of Loar during the 2nd quarter worth approximately $53,000. Finally, RiverPark Advisors LLC bought a new stake in Loar in the 2nd quarter valued at $155,000.

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.