Loar Holdings, LLC (NYSE:LOAR) Short Interest Update

Loar Holdings, LLC (NYSE:LOAR - Get Free Report) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 3,930,000 shares, an increase of 31.9% from the April 30th total of 2,980,000 shares. Based on an average daily trading volume, of 914,300 shares, the short-interest ratio is currently 4.3 days. Currently, 5.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen raised Loar from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Royal Bank of Canada reissued an "outperform" rating and set a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st. Citigroup boosted their price objective on Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley assumed coverage on Loar in a report on Friday, May 23rd. They set an "overweight" rating and a $100.00 price objective for the company.

Loar Trading Up 0.5%

NYSE:LOAR traded up $0.48 on Friday, hitting $89.84. 517,191 shares of the stock were exchanged, compared to its average volume of 524,238. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The stock has a market capitalization of $8.41 billion and a price-to-earnings ratio of 236.42. The company's 50-day moving average price is $87.31 and its 200 day moving average price is $79.71. Loar has a 52 week low of $51.50 and a 52 week high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The firm's revenue was up 27.8% on a year-over-year basis. On average, equities research analysts forecast that Loar will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael J. Manella sold 130,744 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $10,578,497.04. Following the transaction, the insider now owns 449,644 shares in the company, valued at $36,380,696.04. This represents a 22.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul S. Levy sold 1,168,499 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $94,543,254.09. Following the transaction, the director now owns 8,188,503 shares in the company, valued at approximately $662,531,777.73. This trade represents a 12.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,742,872 shares of company stock worth $464,655,774 in the last 90 days.

Institutional Trading of Loar

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Loar by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company's stock valued at $193,239,000 after acquiring an additional 13,832 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Loar by 232.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company's stock valued at $113,145,000 after acquiring an additional 1,119,958 shares during the last quarter. Invesco Ltd. increased its stake in shares of Loar by 38.5% in the 1st quarter. Invesco Ltd. now owns 1,179,384 shares of the company's stock valued at $83,323,000 after acquiring an additional 327,888 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Loar by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,142,073 shares of the company's stock valued at $84,411,000 after acquiring an additional 50,287 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Loar by 13.8% during the 1st quarter. Federated Hermes Inc. now owns 1,136,653 shares of the company's stock worth $80,305,000 after purchasing an additional 137,920 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.