Loar (NYSE:LOAR) Sees Strong Trading Volume – Time to Buy?

Loar Holdings, LLC (NYSE:LOAR) saw an uptick in trading volume on Wednesday . 853,463 shares traded hands during trading, an increase of 180% from the previous session’s volume of 304,526 shares.The stock last traded at $85.72 and had previously closed at $87.69.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LOAR. Citigroup raised their price objective on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of Loar in a research report on Thursday, November 14th. Finally, Morgan Stanley raised their target price on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th.

Loar Stock Performance

The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $84.27 and its two-hundred day moving average price is $71.17.

Loar (NYSE:LOAR) last posted its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The firm had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Loar

Large investors have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in Loar by 36.0% in the 3rd quarter. Franklin Resources Inc. now owns 188,766 shares of the company’s stock valued at $14,556,000 after buying an additional 49,966 shares during the period. Barclays PLC increased its position in shares of Loar by 871.3% during the third quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $219,000 after acquiring an additional 2,640 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Loar by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 175,575 shares of the company’s stock valued at $13,100,000 after acquiring an additional 2,551 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Loar in the 3rd quarter valued at approximately $332,000. Finally, State Street Corp lifted its holdings in shares of Loar by 413.3% in the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after acquiring an additional 335,376 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.