Loar Holdings, LLC (NYSE:LOAR - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $95.16 and last traded at $91.05, with a volume of 33870 shares changing hands. The stock had previously closed at $88.86.
A number of research analysts have weighed in on LOAR shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $80.00 price target on shares of Loar in a research report on Monday, October 7th. Morgan Stanley lifted their target price on shares of Loar from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Finally, Citigroup increased their price target on Loar from $64.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, August 20th.
Check Out Our Latest Report on Loar
The business's 50-day simple moving average is $77.53 and its two-hundred day simple moving average is $65.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09.
Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. The company had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. Loar's quarterly revenue was up 31.2% compared to the same quarter last year. As a group, sell-side analysts expect that Loar Holdings, LLC will post 0.37 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of LOAR. Oppenheimer Asset Management Inc. bought a new stake in Loar in the third quarter valued at about $230,000. Lisanti Capital Growth LLC bought a new position in Loar during the 3rd quarter worth approximately $2,667,000. TimesSquare Capital Management LLC grew its position in shares of Loar by 57.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company's stock worth $30,620,000 after acquiring an additional 149,460 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Loar in the 3rd quarter valued at approximately $45,000. Finally, Seven Grand Managers LLC raised its position in shares of Loar by 33.3% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company's stock valued at $7,459,000 after acquiring an additional 25,000 shares in the last quarter.
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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