Loar (NYSE:LOAR) Shares Gap Down – Should You Sell?

Loar Holdings, LLC (NYSE:LOAR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $93.14, but opened at $89.69. Loar shares last traded at $86.09, with a volume of 448,057 shares trading hands.

Wall Street Analyst Weigh In

LOAR has been the topic of a number of recent analyst reports. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a research report on Thursday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st. Finally, Citigroup increased their target price on Loar from $91.00 to $99.00 and gave the company a “buy” rating in a research report on Thursday.

Loar Trading Up 0.6%

The company has a 50 day moving average of $80.88 and a 200 day moving average of $79.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The stock has a market capitalization of $7.85 billion and a price-to-earnings ratio of 349.50.

Loar (NYSE:LOAR) last posted its quarterly earnings data 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 analyst estimates of $102.51 million. Loar’s quarterly revenue was up 27.8% on a year-over-year basis. On average, research analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in 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 during the last quarter. Huntleigh Advisors Inc. increased 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 worth $811,000 after acquiring an additional 182 shares during the last quarter. GAMMA Investing LLC increased 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 worth $26,000 after acquiring an additional 250 shares during the last quarter. Amalgamated Bank increased 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 worth $160,000 after acquiring an additional 261 shares during the last quarter. Finally, MetLife Investment Management LLC increased 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 worth $142,000 after acquiring an additional 279 shares during the last quarter.

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.