Loar (NYSE:LOAR) Sets New 1-Year High – Should You Buy?

Loar Holdings, LLC (NYSE:LOAR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $96.99 and last traded at $95.21, with a volume of 93585 shares changing hands. The stock had previously closed at $92.00.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup boosted their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Loar in a report on Thursday, November 14th. Finally, Morgan Stanley increased their price target on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th.

Loar Trading Down 3.7 %

The firm’s 50-day moving average is $83.88 and its 200 day moving average is $71.02. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Loar (NYSE:LOAR) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, equities analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Loar

Hedge funds have recently bought and sold shares of the company. Abrams Capital Management L.P. acquired a new position in shares of Loar in the second quarter valued at approximately $2,052,780,000. Federated Hermes Inc. acquired a new position in Loar during the second quarter valued at approximately $38,952,000. State Street Corp raised its holdings in shares of Loar by 413.3% during the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after buying an additional 335,376 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Loar in the second quarter worth about $13,085,000. Finally, Zweig DiMenna Associates LLC bought a new position in Loar in the 2nd quarter valued at approximately $9,208,000.

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.