Loar (NYSE:LOAR) Trading Up 2.8% – Here’s Why

Loar Holdings, LLC (NYSE:LOAR)’s share price traded up 2.8% during trading on Monday . The company traded as high as $69.00 and last traded at $67.83. 201,239 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 405,023 shares. The stock had previously closed at $65.97.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Loar in a research note on Tuesday.

Loar Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The stock’s 50-day moving average is $71.08 and its 200 day moving average is $76.95.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting 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 company’s revenue was up 27.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LOAR. Sterling Capital Management LLC increased its holdings in shares of Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 293 shares during the last quarter. Corebridge Financial Inc. boosted its position 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 acquiring an additional 333 shares in the last quarter. State of Wyoming acquired a new position in shares of Loar during the 4th quarter worth $53,000. Arcadia Investment Management Corp MI bought a new stake in shares of Loar during the 4th quarter worth $61,000. Finally, Gen Wealth Partners Inc bought a new stake in shares of Loar during the 4th quarter worth $62,000.

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.