Loar (NYSE:LOAR) Hits New 52-Week High – Still a Buy?

Loar Holdings, LLC (NYSE:LOAR) shares reached a new 52-week high on Monday . The company traded as high as $96.99 and last traded at $95.21, with a volume of 93585 shares traded. The stock had previously closed at $92.00.

Analyst Upgrades and Downgrades

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

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 stock’s 50-day moving average is $83.88 and its 200-day moving average is $71.02.

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

Hedge Funds Weigh In On Loar

A number of large investors have recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new stake in Loar during the 2nd quarter valued at $26,000. nVerses Capital LLC acquired a new stake in shares of Loar in the 3rd quarter worth about $45,000. Amalgamated Bank bought a new position in Loar in the 2nd quarter valued at about $37,000. Captrust Financial Advisors boosted its stake in Loar by 9.8% during the 3rd quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock valued at $781,000 after purchasing an additional 938 shares during the last quarter. Finally, Linonia Partnership LP bought a new stake in Loar during the 2nd quarter worth approximately $53,000.

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.