Loar (NYSE:LOAR) Trading 3.9% Higher – Should You Buy?

Loar Holdings, LLC (NYSE:LOAR) shares were up 3.9% during mid-day trading on Friday . The stock traded as high as $95.29 and last traded at $95.40. Approximately 121,892 shares traded hands during trading, a decline of 71% from the average daily volume of 426,736 shares. The stock had previously closed at $91.85.

Wall Street Analysts Forecast Growth

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

Loar Price Performance

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 stock has a market capitalization of $9.09 billion and a price-to-earnings ratio of 404.92. The company has a 50-day simple moving average of $73.81 and a two-hundred day simple moving average of $78.14.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The company’s revenue was up 27.8% on a year-over-year basis. On average, equities research analysts predict that Loar Holdings, LLC will post 0.28 earnings per share 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 the business. GAMMA Investing LLC raised its stake in Loar by 204.9% during the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock valued at $26,000 after acquiring an additional 250 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of 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 during the period. Corebridge Financial Inc. raised its stake in shares of Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after purchasing an additional 333 shares in the last quarter. State of Wyoming acquired a new stake in Loar in the fourth quarter worth about $53,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in Loar in the fourth quarter worth about $61,000.

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.