Loar Holdings, LLC (NYSE:LOAR – Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $80.07, but opened at $82.51. Loar shares last traded at $83.57, with a volume of 63,848 shares changing hands.
Wall Street Analyst Weigh In
Several analysts have weighed in on LOAR shares. Citigroup raised their price target on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley boosted their price objective on shares of Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price objective on shares of Loar in a research report on Monday, October 7th.
Check Out Our Latest Research Report on LOAR
Loar Stock Performance
Loar (NYSE:LOAR – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $91.70 million. Loar’s quarterly revenue was up 31.2% on a year-over-year basis. As a group, research analysts forecast that Loar Holdings, LLC will post 0.37 EPS for the current fiscal year.
Institutional Investors Weigh In On Loar
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TCW Group Inc. bought a new stake in shares of Loar during the 2nd quarter valued at about $7,366,000. Select Equity Group L.P. bought a new position in Loar in the 2nd quarter worth approximately $911,000. Emerald Advisers LLC purchased a new stake in Loar during the 2nd quarter valued at approximately $1,146,000. Abrams Capital Management L.P. bought a new stake in shares of Loar during the second quarter valued at approximately $2,052,780,000. Finally, Picton Mahoney Asset Management purchased a new position in shares of Loar in the second quarter worth $964,000.
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.
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