Loar (NYSE:LOAR) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Loar (NYSE:LOARFree Report) from a hold rating to a buy rating in a research report sent to investors on Sunday.

A number of other equities analysts have also recently issued reports on LOAR. Morgan Stanley began coverage on shares of Loar in a research note on Friday, May 23rd. They issued an “overweight” rating and a $100.00 price objective on the stock. Citigroup raised their price target on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st.

Get Our Latest Stock Analysis on LOAR

Loar Trading Down 1.4%

Shares of NYSE:LOAR opened at $81.26 on Friday. The firm has a market capitalization of $7.60 billion, a P/E ratio of 213.85 and a beta of 0.34. The firm has a fifty day moving average of $88.19 and a two-hundred day moving average of $79.08. Loar has a 12-month low of $51.50 and a 12-month high of $99.67. The company has a quick ratio of 3.21, a current ratio of 5.13 and a debt-to-equity ratio of 0.25.

Loar (NYSE:LOARGet Free Report) last released its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. Loar had a net margin of 8.29% and a return on equity of 5.23%. The firm’s revenue was up 27.8% on a year-over-year basis. On average, equities analysts expect that Loar will post 0.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul S. Levy sold 1,168,499 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $94,543,254.09. Following the completion of the sale, the director now owns 8,188,503 shares of the company’s stock, valued at approximately $662,531,777.73. This represents a 12.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raja Bobbili sold 690,258 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $55,848,774.78. Following the transaction, the director now directly owns 31,438,420 shares of the company’s stock, valued at $2,543,682,562.20. This trade represents a 2.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,742,872 shares of company stock worth $464,655,774. Corporate insiders own 22.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Loar by 204.9% during the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock valued at $26,000 after purchasing an additional 250 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Loar by 141.5% in the 4th 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 Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after buying an additional 333 shares in the last quarter. State of Wyoming bought a new stake in shares of Loar during the fourth quarter worth $53,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Loar by 5,286.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock worth $57,000 after buying an additional 793 shares during the last quarter.

Loar Company Profile

(Get Free Report)

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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