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

Wall Street Zen lowered shares of Loar (NYSE:LOAR) from a buy rating to a hold rating in a report published on Saturday.

Several other equities analysts also recently commented on LOAR. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 target price on shares of Loar in a report on Tuesday, April 1st. Citigroup boosted 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, Morgan Stanley assumed coverage on Loar in a research report on Friday, May 23rd. They set an “overweight” rating and a $100.00 price objective for the company.

Loar Price Performance

Shares of Loar stock opened at $82.07 on Friday. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 215.97 and a beta of 0.32. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The stock’s 50-day simple moving average is $88.55 and its 200-day simple moving average is $79.32. Loar has a 52 week low of $51.50 and a 52 week high of $99.67.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. Loar’s revenue was up 27.8% on a year-over-year basis. As a group, analysts expect that Loar will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Paul S. Levy sold 175,923 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were 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 in the company, valued at approximately $648,297,847.80. This represents a 2.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David C. Abrams sold 703,691 shares of Loar stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $56,935,638.81. Following the completion of the transaction, the director now owns 32,050,240 shares of the company’s stock, valued at approximately $2,593,184,918.40. This represents a 2.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,742,872 shares of company stock worth $464,655,774. 22.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Loar

A number of institutional investors and hedge funds have recently modified their holdings of LOAR. Vanguard Group Inc. raised its holdings in Loar by 132.4% during the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock valued at $201,133,000 after buying an additional 1,550,581 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Loar by 232.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company’s stock valued at $113,145,000 after acquiring an additional 1,119,958 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Loar by 159.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock valued at $78,827,000 after acquiring an additional 656,016 shares during the period. Wasatch Advisors LP purchased a new stake in shares of Loar in the fourth quarter valued at $40,347,000. Finally, Norges Bank bought a new stake in shares of Loar in the 4th quarter worth about $30,326,000.

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.