Loar (NYSE:LOAR) Stock Rating Upgraded by Wall Street Zen

Loar (NYSE:LOAR) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other analysts have also recently commented on the stock. Morgan Stanley assumed coverage on shares of Loar in a research note on Friday, May 23rd. They issued an “overweight” rating and a $100.00 target price for the company. 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, April 1st. Finally, Citigroup lifted their target price 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.

Loar Trading Down 1.4%

Shares of Loar stock opened at $81.26 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.13 and a quick ratio of 3.21. Loar has a 1 year low of $51.50 and a 1 year high of $99.67. The company has a market capitalization of $7.60 billion, a P/E ratio of 213.85 and a beta of 0.32. The business has a 50 day moving average price of $88.19 and a 200 day moving average price of $79.15.

Loar (NYSE:LOAR) last released its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting 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%. Loar’s revenue was up 27.8% compared to the same quarter last year. Sell-side analysts anticipate that Loar will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Loar

In other Loar news, Director Raja Bobbili sold 690,258 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $55,848,774.78. Following the completion of the sale, the director now owns 31,438,420 shares of the company’s stock, valued at approximately $2,543,682,562.20. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul S. Levy sold 175,923 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $14,233,929.93. Following the sale, the director now directly owns 8,012,580 shares of the company’s stock, valued at approximately $648,297,847.80. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,742,872 shares of company stock valued at $464,655,774. Company insiders own 22.60% of the company’s stock.

Hedge Funds Weigh In On Loar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Loar by 0.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company’s stock valued at $2,857,000 after purchasing an additional 139 shares in the last quarter. Huntleigh Advisors Inc. raised its stake in shares of Loar by 1.6% in the 1st quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company’s stock valued at $811,000 after purchasing an additional 182 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Loar by 204.9% in 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 in the last quarter. Amalgamated Bank raised its stake in shares of Loar by 13.1% in the 1st quarter. Amalgamated Bank now owns 2,261 shares of the company’s stock valued at $160,000 after purchasing an additional 261 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Loar by 16.1% in the 1st quarter. MetLife Investment Management LLC now owns 2,014 shares of the company’s stock valued at $142,000 after purchasing an additional 279 shares in the last quarter.

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.