Loar (NYSE:LOAR) Shares Up 2.8% – Here’s What Happened

Loar Holdings, LLC (NYSE:LOAR) traded up 2.8% on Monday . The company traded as high as $69.00 and last traded at $67.83. 201,239 shares were traded during mid-day trading, a decline of 50% from the average session volume of 405,023 shares. The stock had previously closed at $65.97.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lowered their target price on Loar from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, February 24th.

Loar Price Performance

The business has a 50-day moving average of $71.48 and a 200 day moving average of $77.06. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Institutional Investors Weigh In On Loar

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Loar by 132.4% during the fourth quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock worth $201,133,000 after buying an additional 1,550,581 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in Loar by 159.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock valued at $78,827,000 after purchasing an additional 656,016 shares in the last quarter. Wasatch Advisors LP acquired a new position in Loar during the 4th quarter worth approximately $40,347,000. Lord Abbett & CO. LLC raised its stake in shares of Loar by 71.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock worth $75,303,000 after buying an additional 421,637 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Loar in the 4th quarter valued at approximately $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.