Loar (NYSE:LOAR) Stock Rating Lowered by Wall Street Zen

Wall Street Zen cut shares of Loar (NYSE:LOAR - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on the stock. Citigroup lifted their price target on shares of Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley began coverage on shares of Loar in a research report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 target price on the stock. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $92.00 target price on shares of Loar in a research note on Tuesday, April 1st.

Loar Price Performance

Shares of Loar stock traded down $1.05 during midday trading on Friday, hitting $81.01. 979,841 shares of the company traded hands, compared to its average volume of 554,421. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 213.19 and a beta of 0.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.21 and a current ratio of 5.13. The firm's fifty day moving average price is $88.46 and its 200-day moving average price is $79.33. Loar has a 12 month low of $51.50 and a 12 month high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last issued its earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. Loar had a net margin of 8.29% and a return on equity of 5.23%. The firm's quarterly revenue was up 27.8% on a year-over-year basis. As a group, sell-side analysts forecast that Loar will post 0.28 earnings per share for the current year.

Insider Transactions at Loar

In other news, Director Alison Bomberg sold 690,258 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $55,848,774.78. Following the completion of the transaction, the director now directly owns 31,438,420 shares of the company's stock, valued at $2,543,682,562.20. This represents a 2.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul S. Levy sold 1,168,499 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $94,543,254.09. Following the completion of the transaction, the director now directly owns 8,188,503 shares of the company's stock, valued at approximately $662,531,777.73. This represents a 12.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,742,872 shares of company stock worth $464,655,774. Insiders own 22.60% of the company's stock.

Institutional Trading of Loar

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in 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 buying an additional 13,832 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Loar by 232.6% during 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 period. Invesco Ltd. boosted its holdings in Loar by 38.5% during 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 period. Price T Rowe Associates Inc. MD raised its position in 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 purchasing an additional 50,287 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in Loar by 13.8% in the 1st quarter. Federated Hermes Inc. now owns 1,136,653 shares of the company's stock valued at $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.