Loar Holdings, LLC (NYSE:LOAR) Short Interest Up 20.2% in March

Loar Holdings, LLC (NYSE:LOAR) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,800,000 shares, an increase of 20.2% from the March 15th total of 2,330,000 shares. Approximately 3.9% of the shares of the stock are sold short. Based on an average trading volume of 466,500 shares, the short-interest ratio is presently 6.0 days.

Analysts Set New Price Targets

A number of research analysts have issued reports on LOAR shares. Morgan Stanley upgraded shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a report on Thursday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price target on shares of Loar in a report on Tuesday, April 1st.

Loar Stock Down 1.8 %

Shares of NYSE:LOAR opened at $84.58 on Monday. Loar has a 1 year low of $42.57 and a 1 year high of $96.99. The stock has a 50-day simple moving average of $72.01 and a 200-day simple moving average of $77.69. 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 $7.91 billion and a P/E ratio of 353.46.

Loar (NYSE:LOAR) last released its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The business 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% compared to the same quarter last year. Equities analysts forecast that Loar will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of 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. TimesSquare Capital Management LLC grew its position in 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 in the last quarter. Wasatch Advisors LP purchased a new stake in shares of Loar during the fourth quarter valued at approximately $40,347,000. Lord Abbett & CO. LLC grew its holdings in Loar by 71.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after purchasing an additional 421,637 shares in the last quarter. Finally, Norges Bank purchased a new stake in Loar during the 4th quarter worth $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.