Loar (NYSE:LOAR) Reaches New 52-Week High - What's Next?

Loar Holdings, LLC (NYSE:LOAR - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $99.67 and last traded at $99.43, with a volume of 1558114 shares changing hands. The stock had previously closed at $95.88.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LOAR. Citigroup lifted their price objective on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st. Finally, Morgan Stanley raised Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective on the stock in a report on Thursday, April 3rd.

Loar Price Performance

The company has a 50 day moving average price of $81.31 and a 200 day moving average price of $79.53. The firm has a market cap of $8.01 billion and a PE ratio of 356.63. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78.

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, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million for the quarter, compared to analysts' expectations of $102.51 million. Loar's revenue for the quarter was up 27.8% on a year-over-year basis. On average, sell-side analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Loar

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Loar by 204.9% during the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after purchasing an additional 250 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after purchasing an additional 293 shares during the last quarter. Corebridge Financial Inc. raised its position in shares of Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock worth $39,000 after purchasing an additional 333 shares during the last quarter. State of Wyoming acquired a new position in shares of Loar during the 4th quarter worth approximately $53,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Loar by 5,286.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company's stock worth $57,000 after purchasing an additional 793 shares during the last quarter.

Loar Company Profile

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.