Loar (NYSE:LOAR - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04, Briefing.com reports. The firm had revenue of $123.12 million for the quarter, compared to analysts' expectations of $122.17 million. Loar had a net margin of 9.82% and a return on equity of 5.70%. The business's revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. Loar updated its FY 2025 guidance to 0.830-0.88 EPS.
Loar Stock Up 2.4%
Shares of NYSE LOAR traded up $1.61 during trading on Thursday, hitting $69.84. 1,762,608 shares of the company traded hands, compared to its average volume of 877,718. The business's fifty day moving average is $78.08 and its 200 day moving average is $78.73. Loar has a fifty-two week low of $62.10 and a fifty-two week high of $99.67. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 151.83 and a beta of 0.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.21 and a current ratio of 5.13.
Insider Buying and Selling
In other Loar news, insider Michael J. Manella sold 19,684 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $1,592,632.44. Following the completion of the sale, the insider directly owned 429,960 shares of the company's stock, valued at approximately $34,788,063.60. The trade was a 4.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul S. Levy sold 175,923 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $14,233,929.93. Following the sale, the director directly owned 8,012,580 shares of the company's stock, valued at $648,297,847.80. This represents a 2.15% decrease in their ownership of the stock. 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 over the last ninety days. Insiders own 22.60% of the company's stock.
Institutional Investors Weigh In On Loar
Institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake in Loar by 98.0% in the second quarter. Alliancebernstein L.P. now owns 1,520,064 shares of the company's stock valued at $130,984,000 after acquiring an additional 752,201 shares during the last quarter. State Street Corp boosted its stake in Loar by 66.3% in the second quarter. State Street Corp now owns 1,660,474 shares of the company's stock valued at $143,083,000 after acquiring an additional 662,224 shares during the last quarter. Sei Investments Co. boosted its stake in Loar by 539.5% in the second quarter. Sei Investments Co. now owns 179,950 shares of the company's stock valued at $15,506,000 after acquiring an additional 151,812 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Loar by 10.1% in the first quarter. Goldman Sachs Group Inc. now owns 538,592 shares of the company's stock valued at $38,052,000 after acquiring an additional 49,629 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Loar in the second quarter valued at about $1,709,000.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Loar in a research note on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price objective on the stock. Wall Street Zen cut shares of Loar from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Citigroup lifted their price objective on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research note on Thursday, May 15th.
Check Out Our Latest Stock Report on LOAR
Loar Company Profile
(
Get Free Report)
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.
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