Short Interest in Loar Holdings, LLC (NYSE:LOAR) Expands By 20.2%

Loar Holdings, LLC (NYSE:LOAR) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,800,000 shares, an increase of 20.2% from the March 15th total of 2,330,000 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average trading volume of 466,500 shares, the short-interest ratio is presently 6.0 days.

Hedge Funds Weigh In On Loar

A number of institutional investors and hedge funds have recently made changes to their positions in LOAR. HighTower Advisors LLC acquired a new position in Loar during the third quarter worth about $290,000. State Street Corp raised its holdings in Loar by 413.3% during the third quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after purchasing an additional 335,376 shares during the last quarter. Barclays PLC raised its holdings in Loar by 871.3% during the third 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 grew its holdings in Loar by 1.5% in the third quarter. Geode Capital Management LLC now owns 175,575 shares of the company’s stock valued at $13,100,000 after purchasing an additional 2,551 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Loar by 36.0% in the third quarter. Franklin Resources Inc. now owns 188,766 shares of the company’s stock valued at $14,556,000 after buying an additional 49,966 shares in the last quarter.

Loar Stock Down 1.8 %

LOAR stock opened at $84.58 on Monday. Loar has a one year low of $42.57 and a one year high of $96.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The company has a fifty day moving average of $72.01 and a 200-day moving average of $77.69. The stock has a market capitalization of $7.91 billion and a PE ratio of 353.46.

Loar (NYSE:LOAR) last released its earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, analysts expect that Loar will post 0.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target on the stock in a research report on Thursday, April 3rd.

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.