Loar (NYSE:LOAR) Raised to Buy at Wall Street Zen

Key Points

• Loar's rating was upgraded from "hold" to "buy" by Wall Street Zen, indicating a positive outlook for the stock.
• Citigroup increased its price target for Loar from $91.00 to $99.00, while Morgan Stanley set a price target of $100.00 with an "overweight" rating.
• Loar reported a quarterly earnings per share (EPS) of $0.23, exceeding expectations and reflecting a 26.8% year-over-year revenue increase.

Loar (NYSE:LOAR - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

LOAR has been the topic of a number of other research reports. Morgan Stanley began coverage on shares of Loar in a research note on Friday, May 23rd. They set an "overweight" rating and a $100.00 price target on the stock. Citigroup increased 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. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $97.00.

Loar Trading Down 0.2%

LOAR stock traded down $0.1240 on Friday, hitting $71.2960. 74,758 shares of the company were exchanged, compared to its average volume of 821,679. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.15 and a quick ratio of 4.01. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 155.23 and a beta of 0.11. Loar has a twelve month low of $62.10 and a twelve month high of $99.67. The business's fifty day moving average is $77.07 and its two-hundred day moving average is $78.54.

Loar (NYSE:LOAR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $123.12 million for the quarter, compared to the consensus estimate of $122.17 million. Loar had a net margin of 9.82% and a return on equity of 5.50%. Loar's revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. As a group, research analysts forecast that Loar will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Loar

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in shares of Loar by 204.9% in the 1st 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. Rakuten Securities Inc. acquired a new stake in Loar during the 2nd quarter valued at $27,000. PNC Financial Services Group Inc. grew its holdings in Loar by 390.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 348 shares of the company's stock valued at $30,000 after purchasing an additional 277 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock valued at $37,000 after purchasing an additional 293 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Loar during the 4th quarter valued at $53,000.

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.