Loar (NYSE:LOAR) Announces Earnings Results

Key Points

• Loar (NYSE: LOAR) reported earnings of $0.23 per share, exceeding the consensus estimate of $0.19, with revenues of $123.12 million for the quarter, up 26.8% year-over-year.
• The company has updated its FY 2025 guidance to an EPS range of $0.830-0.88.
• Loar's stock saw a 2.4% increase, trading at $69.84, despite insiders selling a total of over 5.7 million shares recently.

Loar (NYSE:LOAR - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04, Briefing.com reports. Loar had a return on equity of 5.50% and a net margin of 9.82%.The business had revenue of $123.12 million during the quarter, compared to the consensus estimate of $122.17 million. During the same quarter last year, the firm posted $0.13 EPS. The company's quarterly revenue was up 26.8% on a year-over-year basis. Loar updated its FY 2025 guidance to 0.830-0.88 EPS.

Loar Stock Performance

LOAR stock traded up $0.3790 during trading hours on Tuesday, hitting $70.5290. 685,728 shares of the stock were exchanged, compared to its average volume of 822,965. The company has a current ratio of 6.15, a quick ratio of 4.01 and a debt-to-equity ratio of 0.25. Loar has a 12 month low of $62.10 and a 12 month high of $99.67. The firm has a market capitalization of $6.60 billion, a P/E ratio of 153.31 and a beta of 0.11. The company has a 50-day simple moving average of $77.31 and a two-hundred day simple moving average of $78.59.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP increased its position in shares of Loar by 290.9% in the second quarter. Wasatch Advisors LP now owns 2,624,649 shares of the company's stock worth $226,166,000 after purchasing an additional 1,953,148 shares during the period. State Street Corp increased its position in shares of Loar by 66.3% in the second quarter. State Street Corp now owns 1,660,474 shares of the company's stock worth $143,083,000 after purchasing an additional 662,224 shares during the period. Alliancebernstein L.P. increased its position in shares of Loar by 98.0% in the second quarter. Alliancebernstein L.P. now owns 1,520,064 shares of the company's stock worth $130,984,000 after purchasing an additional 752,201 shares during the period. Bamco Inc. NY increased its position in shares of Loar by 100.9% in the second quarter. Bamco Inc. NY now owns 682,066 shares of the company's stock worth $58,774,000 after purchasing an additional 342,509 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of Loar in the second quarter worth $57,607,000.

Analyst Ratings Changes

Several equities research analysts have issued reports on LOAR shares. Wall Street Zen raised Loar from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup raised their price target on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley started coverage on Loar in a report on Friday, May 23rd. They set an "overweight" rating and a $100.00 price target for the company. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $97.00.

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.