Loar (NYSE:LOAR) Shares Gap Down – Should You Sell?

Loar Holdings, LLC (NYSE:LOAR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $93.14, but opened at $89.69. Loar shares last traded at $86.09, with a volume of 448,057 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LOAR shares. Citigroup upped their price objective on shares of Loar from $91.00 to $99.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st. Finally, Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a research report on Thursday, April 3rd.

Loar Trading Up 0.6%

The stock has a 50-day moving average of $80.88 and a 200 day moving average of $79.61. The stock has a market cap of $7.85 billion and a PE ratio of 349.50. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78.

Loar (NYSE:LOAR) last issued its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Loar

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after purchasing an additional 250 shares in the last quarter. Sterling Capital Management LLC boosted its position in Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 293 shares in the last quarter. Corebridge Financial Inc. boosted its position in Loar by 174.3% in the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after purchasing an additional 333 shares in the last quarter. State of Wyoming purchased a new stake in Loar in the 4th quarter worth approximately $53,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Loar by 5,286.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock worth $57,000 after purchasing an additional 793 shares in 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.