Loar (NYSE:LOAR) Shares Up 3.9% - Should You Buy?

Loar Holdings, LLC (NYSE:LOAR - Get Free Report) traded up 3.9% during mid-day trading on Friday . The company traded as high as $95.29 and last traded at $95.40. 121,892 shares traded hands during trading, a decline of 71% from the average session volume of 426,736 shares. The stock had previously closed at $91.85.

Analysts Set New Price Targets

A number of brokerages have commented on LOAR. Morgan Stanley upgraded shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 target price for the company in a report 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.

Loar Stock Down 2.5 %

The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The firm has a market cap of $8.80 billion and a price-to-earnings ratio of 392.04. The business's 50 day moving average price is $74.85 and its 200 day moving average price is $78.43.

Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The business had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Loar

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew 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 acquiring an additional 250 shares during the period. Sterling Capital Management LLC lifted its stake in 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 acquiring an additional 293 shares in the last quarter. Corebridge Financial Inc. increased its stake in Loar by 174.3% during the fourth 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 valued at about $53,000. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of Loar during the fourth quarter worth about $61,000.

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.