Zacks Research Upgrades Loar (NYSE:LOAR) to "Strong-Buy"

Key Points

• Zacks Research has upgraded Loar (NYSE:LOAR) from a "hold" rating to a "strong-buy" rating, indicating increased confidence in the stock's future performance.
• The company reported impressive quarterly earnings, with a net margin of 9.82% and revenue growth of 26.8% compared to the same quarter last year.
• Loar has an average price target of $97.00 according to market analysts, with the stock currently trading around $79.90.

Loar (NYSE:LOAR - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Loar from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Weiss Ratings reissued a "hold (c-)" rating on shares of Loar in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Loar has an average rating of "Buy" and an average price target of $97.00.

Loar Stock Down 1.0%

LOAR stock opened at $79.90 on Thursday. The firm has a market capitalization of $7.48 billion, a P/E ratio of 173.69 and a beta of 0.21. 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 company's 50 day simple moving average is $76.15 and its 200-day simple moving average is $80.76. Loar has a 52-week low of $62.10 and a 52-week high of $99.67.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Loar by 8,383.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 509 shares of the company's stock valued at $41,000 after buying an additional 503 shares during the last quarter. Argent Capital Management LLC acquired a new position in Loar in the 3rd quarter valued at $224,000. Voya Investment Management LLC grew its stake in Loar by 1,627.2% in the 3rd quarter. Voya Investment Management LLC now owns 297,196 shares of the company's stock valued at $23,776,000 after buying an additional 279,989 shares during the last quarter. Thrive Wealth Management LLC grew its stake in Loar by 0.3% in the 3rd quarter. Thrive Wealth Management LLC now owns 41,016 shares of the company's stock valued at $3,281,000 after buying an additional 133 shares during the last quarter. Finally, Orion Porfolio Solutions LLC acquired a new position in Loar in the 2nd quarter valued at $232,000.

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.

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