Loar Holdings, LLC (NYSE:LOAR - Get Free Report) shares reached a new 52-week high during mid-day trading on Saturday . The company traded as high as $98.60 and last traded at $97.18, with a volume of 1312087 shares. The stock had previously closed at $91.85.
Analyst Ratings Changes
LOAR has been the topic of several research reports. Morgan Stanley raised shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target on the stock in a research note on Thursday, April 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st.
Get Our Latest Analysis on Loar
Loar Price Performance
The firm's fifty day simple moving average is $75.38 and its 200-day simple moving average is $78.54. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $8.92 billion and a PE ratio of 398.46.
Loar (NYSE:LOAR - Get Free Report) last issued its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million for the quarter, compared to analysts' expectations of $102.51 million. The company's revenue for the quarter was up 27.8% on a year-over-year basis. On average, research analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Loar
Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of Loar by 204.9% during 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 in the last quarter. Sterling Capital Management LLC raised its stake in Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after buying an additional 293 shares in the last quarter. Corebridge Financial Inc. boosted its position in Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after acquiring an additional 333 shares in the last quarter. State of Wyoming purchased a new position in shares of Loar in the 4th quarter valued at $53,000. Finally, Arcadia Investment Management Corp MI bought a new position in shares of Loar in the 4th quarter worth $61,000.
About Loar
(
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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.
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