Loar (NYSE:LOAR) Trading 2.8% Higher – Still a Buy?

Loar Holdings, LLC (NYSE:LOAR) shares shot up 2.8% on Monday . The company traded as high as $69.00 and last traded at $67.83. 201,239 shares were traded during mid-day trading, a decline of 50% from the average session volume of 405,023 shares. The stock had previously closed at $65.97.

Analyst Ratings Changes

Separately, Royal Bank of Canada decreased their price target on Loar from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th.

Loar Stock Up 6.2 %

The company’s 50 day moving average is $71.48 and its 200 day moving average is $77.06. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Institutional Investors Weigh In On Loar

Several hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its position in Loar by 184.3% in the fourth quarter. California State Teachers Retirement System now owns 2,226 shares of the company’s stock valued at $165,000 after purchasing an additional 1,443 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Loar in the fourth quarter valued at approximately $2,978,000. Polar Asset Management Partners Inc. raised its holdings in Loar by 343.9% in the 4th quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company’s stock valued at $1,345,000 after buying an additional 14,100 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Loar by 950.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 40,299 shares of the company’s stock worth $2,978,000 after buying an additional 36,463 shares during the period. Finally, Woodline Partners LP grew its holdings in Loar by 156.0% during the 4th quarter. Woodline Partners LP now owns 83,928 shares of the company’s stock worth $6,203,000 after acquiring an additional 51,149 shares during the last quarter.

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.