Loar (NYSE:LOAR) Sets New 12-Month High – Here’s Why

Shares of Loar Holdings, LLC (NYSE:LOAR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $96.60 and last traded at $94.32, with a volume of 34477 shares traded. The stock had previously closed at $94.34.

Analyst Upgrades and Downgrades

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

Loar Trading Down 3.2 %

The stock has a 50-day simple moving average of $80.14 and a two-hundred day simple moving average of $67.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95.

Loar (NYSE:LOAR) last released its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to analysts’ expectations of $97.30 million. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Barclays PLC increased its holdings in shares of Loar by 871.3% in the third quarter. Barclays PLC now owns 2,943 shares of the company’s stock worth $219,000 after buying an additional 2,640 shares during the period. Geode Capital Management LLC increased its holdings in shares of Loar by 1.5% in the third quarter. Geode Capital Management LLC now owns 175,575 shares of the company’s stock worth $13,100,000 after buying an additional 2,551 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Loar in the third quarter worth about $332,000. State Street Corp increased its holdings in shares of Loar by 413.3% in the third quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after buying an additional 335,376 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Loar in the third quarter worth about $306,000.

Loar Company Profile

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.