Loar (NYSE:LOAR) Coverage Initiated at Morgan Stanley

Morgan Stanley started coverage on shares of Loar (NYSE:LOAR - Free Report) in a report published on Friday morning. The brokerage issued an overweight rating and a $100.00 target price on the stock.

LOAR has been the subject of several other reports. Citigroup boosted 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st. Finally, Wall Street Zen raised shares of Loar from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $89.00.

Loar Price Performance

Shares of NYSE:LOAR traded down $0.26 on Friday, hitting $86.57. The company's stock had a trading volume of 428,272 shares, compared to its average volume of 504,498. The company has a 50-day simple moving average of $84.04 and a 200 day simple moving average of $79.47. The company has a market capitalization of $8.10 billion and a PE ratio of 227.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. Loar has a 1 year low of $50.02 and a 1 year high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last released its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting analysts' consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. Loar's revenue was up 27.8% compared to the same quarter last year. Sell-side analysts forecast that Loar will post 0.28 EPS for the current fiscal year.

Insider Activity at Loar

In other news, insider Michael J. Manella sold 19,684 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $80.91, for a total value of $1,592,632.44. Following the transaction, the insider now owns 429,960 shares in the company, valued at approximately $34,788,063.60. This represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul S. Levy sold 1,168,499 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $94,543,254.09. Following the sale, the director now owns 8,188,503 shares in the company, valued at approximately $662,531,777.73. The trade was a 12.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,742,872 shares of company stock valued at $464,655,774 in the last three months.

Institutional Investors Weigh In On Loar

A number of large investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Loar by 0.3% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company's stock valued at $2,857,000 after buying an additional 139 shares during the period. Huntleigh Advisors Inc. increased its position in Loar by 1.6% during the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock valued at $811,000 after acquiring an additional 182 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock valued at $26,000 after acquiring an additional 250 shares during the period. Amalgamated Bank boosted its position in Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company's stock worth $160,000 after purchasing an additional 261 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Loar by 16.1% during the 1st quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock valued at $142,000 after purchasing an additional 279 shares during the period.

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.