Wall Street Zen Upgrades Loar (NYSE:LOAR) to "Buy"

Wall Street Zen upgraded shares of Loar (NYSE:LOAR - Free Report) from a hold rating to a buy rating in a report published on Sunday morning.

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

Loar Stock Up 0.2%

Shares of LOAR stock traded up $0.16 on Friday, reaching $83.75. 825,330 shares of the company were exchanged, compared to its average volume of 568,684. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.13 and a quick ratio of 3.21. The company has a 50-day moving average of $87.94 and a 200-day moving average of $79.08. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 220.40 and a beta of 0.32. Loar has a one year low of $51.50 and a one year high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly 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 return on equity of 5.23% and a net margin of 8.29%. The company's revenue was up 27.8% on a year-over-year basis. Analysts anticipate that Loar will post 0.28 earnings per share for the current year.

Insider Activity at Loar

In other Loar news, Director Alison Bomberg sold 690,258 shares of Loar 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 $55,848,774.78. Following the transaction, the director now owns 31,438,420 shares of the company's stock, valued at $2,543,682,562.20. This trade represents a 2.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul S. Levy sold 175,923 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $14,233,929.93. Following the completion of the transaction, the director now owns 8,012,580 shares in the company, valued at $648,297,847.80. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,742,872 shares of company stock valued at $464,655,774 over the last 90 days. Insiders own 22.60% of the company's stock.

Hedge Funds Weigh In On Loar

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Loar by 204.9% in the first 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 stake 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 period. Corebridge Financial Inc. raised its stake 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 period. State of Wyoming purchased a new position in shares of Loar in the 4th quarter worth about $53,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Loar by 5,286.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company's stock valued at $57,000 after buying an additional 793 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.