Loar (NYSE:LOAR) Stock Rating Upgraded by Wall Street Zen

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

LOAR has been the topic of several other research reports. Morgan Stanley assumed coverage on shares of Loar in a research report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 target price on the stock. 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. Finally, Citigroup lifted their target price on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research report on Thursday, May 15th.

Loar Stock Performance

LOAR stock traded down $1.12 during midday trading on Friday, hitting $81.26. 1,442,969 shares of the stock traded hands, compared to its average volume of 560,608. The firm has a market cap of $7.60 billion, a P/E ratio of 213.85 and a beta of 0.34. 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 stock's fifty day simple moving average is $88.19 and its 200-day simple moving average is $79.08. Loar has a 1-year low of $51.50 and a 1-year high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. Loar had a net margin of 8.29% and a return on equity of 5.23%. The company's quarterly revenue was up 27.8% on a year-over-year basis. On average, analysts expect that Loar will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In other Loar news, insider Michael J. Manella sold 19,684 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $1,592,632.44. Following the completion of the sale, the insider now directly owns 429,960 shares of the company's stock, valued at $34,788,063.60. This trade represents a 4.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul S. Levy sold 175,923 shares of the firm's stock in a transaction 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 sale, the director now directly owns 8,012,580 shares of the company's stock, valued at $648,297,847.80. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,742,872 shares of company stock worth $464,655,774. 22.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Loar

Several institutional investors and hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Loar by 0.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company's stock valued at $2,857,000 after purchasing an additional 139 shares during the last quarter. Huntleigh Advisors Inc. boosted its holdings in Loar by 1.6% in the 1st quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock valued at $811,000 after purchasing an additional 182 shares during the last quarter. GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 250 shares during the last quarter. Amalgamated Bank boosted its holdings in Loar by 13.1% in the 1st quarter. Amalgamated Bank now owns 2,261 shares of the company's stock valued at $160,000 after purchasing an additional 261 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Loar by 16.1% in 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 last quarter.

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.