Loar (NYSE:LOAR) Shares Gap Up – Here’s Why

Loar Holdings Inc. (NYSE:LOAR)’s share price gapped up prior to trading on Monday. The stock had previously closed at $62.11, but opened at $65.41. Loar shares last traded at $67.0190, with a volume of 225,630 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LOAR shares. Morgan Stanley cut their price objective on Loar from $82.00 to $72.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $88.00 target price on shares of Loar in a research report on Sunday, August 9th. Zacks Research lowered shares of Loar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of Loar in a research note on Tuesday, October 6th. Finally, Royal Bank Of Canada upped their price objective on shares of Loar from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Loar Trading Up 9.0%

The company has a current ratio of 4.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $6.35 billion, a P/E ratio of 94.11 and a beta of 0.63. The business’s fifty day simple moving average is $65.03 and its two-hundred day simple moving average is $66.71.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. Loar had a net margin of 11.60% and a return on equity of 9.37%. The business had revenue of $171.58 million during the quarter, compared to analyst estimates of $162.80 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. Loar has set its FY 2026 guidance at 1.320-1.360 EPS. As a group, analysts forecast that Loar Holdings Inc. will post 1.20 earnings per share for the current year.

Institutional Trading of Loar

A number of hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Loar by 837.1% in the first quarter. Bank of New York Mellon Corp now owns 933,216 shares of the company’s stock worth $53,464,000 after purchasing an additional 833,626 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Loar by 14.5% during the 2nd quarter. Wellington Management Group LLP now owns 4,063,339 shares of the company’s stock worth $327,546,000 after acquiring an additional 514,061 shares during the period. Janus Henderson Group PLC boosted 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 valued at $23,598,000 after acquiring an additional 144,375 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Loar by 236.5% during the 1st quarter. Royal Bank of Canada now owns 163,154 shares of the company’s stock valued at $9,348,000 after acquiring an additional 114,674 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Loar by 17.4% in the first quarter. Dimensional Fund Advisors LP now owns 747,351 shares of the company’s stock valued at $42,806,000 after acquiring an additional 110,864 shares during the period.

Loar Company Profile

Loar Holdings Inc is an aerospace and defense company that designs, manufactures and sells highly engineered, mission-critical components and systems. Its products are used in commercial and military aircraft, business jets, general aviation, space vehicles and other defense applications.

The company’s product portfolio includes specialized components such as shock absorbers, vibration-control products, elastomeric components, seals, electronic systems and other aircraft and defense parts.