Loar Holdings Inc. (NYSE:LOAR – Get Free Report)’s share price dropped 7.3% on Wednesday . The company traded as low as $72.28 and last traded at $72.0850. 460,947 shares changed hands during trading, a decline of 51% from the average session volume of 937,064 shares. The stock had previously closed at $77.80.
Wall Street Analyst Weigh In
LOAR has been the subject of a number of analyst reports. Morgan Stanley set a $91.00 price objective on Loar in a research report on Friday, May 8th. Weiss Ratings lowered Loar from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada cut their target price on Loar from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Citigroup boosted their price target on shares of Loar from $71.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Finally, Jefferies Financial Group set a $75.00 price target on shares of Loar in a research report on Sunday, May 10th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Loar currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.20.
Check Out Our Latest Research Report on LOAR
Loar Stock Performance
Loar (NYSE:LOAR – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.19. Loar had a return on equity of 8.47% and a net margin of 12.64%.The business had revenue of $156.09 million during the quarter, compared to analyst estimates of $149.71 million. During the same period in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. Loar has set its FY 2026 guidance at 1.260-1.300 EPS. As a group, equities research analysts forecast that Loar Holdings Inc. will post 1.16 earnings per share for the current year.
Insider Activity
In other news, Director Taiwo K. Danmola sold 35,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $60.59, for a total transaction of $2,120,650.00. Following the transaction, the director directly owned 54,286 shares of the company’s stock, valued at approximately $3,289,188.74. This trade represents a 39.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.10% of the company’s stock.
Institutional Investors Weigh In On Loar
A number of hedge funds and other institutional investors have recently modified their holdings of LOAR. NewEdge Advisors LLC bought a new position in Loar in the 1st quarter valued at about $332,000. Janus Henderson Group PLC raised its position in shares of Loar by 54.0% during the 1st quarter. Janus Henderson Group PLC now owns 411,900 shares of the company’s stock worth $23,598,000 after buying an additional 144,375 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Loar by 26.2% during the 1st quarter. California State Teachers Retirement System now owns 40,360 shares of the company’s stock worth $2,312,000 after buying an additional 8,372 shares in the last quarter. Readystate Asset Management LP acquired a new stake in shares of Loar in the 1st quarter worth approximately $1,432,000. Finally, Royal Bank of Canada lifted its stake in shares of Loar by 236.5% in the 1st quarter. Royal Bank of Canada now owns 163,154 shares of the company’s stock worth $9,348,000 after acquiring an additional 114,674 shares during the period.
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.
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