Loar (NYSE:LOAR) Sees Large Volume Increase – Here’s What Happened

Loar Holdings, LLC (NYSE:LOAR) shares saw unusually-high trading volume on Wednesday . Approximately 853,463 shares changed hands during mid-day trading, an increase of 180% from the previous session’s volume of 304,526 shares.The stock last traded at $85.72 and had previously closed at $87.69.

Wall Street Analyst Weigh In

LOAR has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Loar in a report on Thursday, November 14th. Morgan Stanley boosted their price target on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, Citigroup raised their price objective on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th.

Loar Stock Performance

The firm has a 50 day moving average price of $84.27 and a 200-day moving average price of $71.17. 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 posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, 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 and other institutional investors have recently modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new position in shares of Loar in the 2nd quarter valued at $26,000. nVerses Capital LLC acquired a new position in Loar in the third quarter valued at $45,000. Amalgamated Bank purchased a new position in shares of Loar during the second quarter worth about $37,000. Captrust Financial Advisors increased its position in shares of Loar by 9.8% during the third quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock worth $781,000 after purchasing an additional 938 shares in the last quarter. Finally, Linonia Partnership LP acquired a new stake in shares of Loar during the second quarter worth about $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.