Loar Holdings, LLC (NYSE:LOAR - Get Free Report) insider Michael J. Manella sold 28,153 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the completion of the sale, the insider now owns 580,388 shares of the company's stock, valued at $47,110,093.96. This trade represents a 4.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Loar Price Performance
Shares of Loar stock opened at $79.87 on Tuesday. The company has a 50-day moving average of $84.38 and a two-hundred day moving average of $71.58. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.99.
Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to analyst estimates of $97.30 million. The firm's revenue was up 25.0% compared to the same quarter last year. Analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.
Analyst Ratings Changes
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A number of brokerages recently commented on LOAR. Citigroup raised their price objective on shares of Loar from $64.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $100.00 price target on shares of Loar in a report on Thursday, November 14th. Finally, Morgan Stanley upped their price objective on Loar from $75.00 to $89.00 and gave the stock an "equal weight" rating in a report on Monday, November 18th.
Get Our Latest Stock Analysis on Loar
Institutional Investors Weigh In On Loar
A number of large investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC raised its position in Loar by 71.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company's stock worth $75,303,000 after acquiring an additional 421,637 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Loar by 36.0% during the 3rd quarter. Franklin Resources Inc. now owns 188,766 shares of the company's stock worth $14,556,000 after purchasing an additional 49,966 shares in the last quarter. Barclays PLC raised its position in shares of Loar by 871.3% during the 3rd quarter. Barclays PLC now owns 2,943 shares of the company's stock worth $219,000 after purchasing an additional 2,640 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 buying an additional 2,551 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Loar during the 3rd quarter valued at $332,000.
Loar Company Profile
(
Get Free Report)
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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