Loar (NYSE:LOAR) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Loar (NYSE:LOAR) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley set a $91.00 price objective on Loar in a report on Friday, May 8th. Citigroup increased their target price on Loar from $71.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Weiss Ratings lowered shares of Loar from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Jefferies Financial Group set a $75.00 price objective on Loar in a research note on Sunday, May 10th. Finally, Royal Bank Of Canada dropped their price target on Loar from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Loar currently has an average rating of “Buy” and an average price target of $86.20.

Loar Price Performance

LOAR stock opened at $72.17 on Tuesday. Loar has a 12 month low of $53.15 and a 12 month high of $83.43. The company has a current ratio of 4.56, a quick ratio of 2.89 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $66.65 and a 200 day moving average price of $66.56. The stock has a market cap of $6.76 billion, a PE ratio of 101.64 and a beta of 0.47.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.19. The company had revenue of $156.09 million for the quarter, compared to analyst estimates of $149.71 million. Loar had a net margin of 12.64% and a return on equity of 8.47%. The firm’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. Loar has set its FY 2026 guidance at 1.260-1.300 EPS. Equities research analysts anticipate that Loar will post 1.16 earnings per share for the current year.

Insider Transactions at Loar

In other Loar news, Director Taiwo K. Danmola sold 35,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $60.59, for a total value of $2,120,650.00. Following the completion of the transaction, the director directly owned 54,286 shares in the company, valued at approximately $3,289,188.74. The trade was a 39.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Loar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital International Investors lifted its holdings in shares of Loar by 61.8% during the 4th quarter. Capital International Investors now owns 7,218,814 shares of the company’s stock valued at $490,879,000 after purchasing an additional 2,757,297 shares during the last quarter. Wasatch Advisors LP grew its stake in Loar by 14.5% during the 1st quarter. Wasatch Advisors LP now owns 3,509,014 shares of the company’s stock worth $201,031,000 after buying an additional 444,049 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Loar by 39.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,533,540 shares of the company’s stock valued at $172,281,000 after buying an additional 711,182 shares in the last quarter. Bamco Inc. NY increased its position in Loar by 17.2% during the 4th quarter. Bamco Inc. NY now owns 2,119,505 shares of the company’s stock valued at $144,126,000 after buying an additional 310,406 shares in the last quarter. Finally, State Street Corp raised its stake in Loar by 18.1% in the fourth quarter. State Street Corp now owns 1,880,955 shares of the company’s stock valued at $127,905,000 after buying an additional 288,095 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.