Loar Holdings Inc. (NYSE:LOAR) Sees Significant Increase in Short Interest
by Scott Moore · The Cerbat GemLoar Holdings Inc. (NYSE:LOAR – Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totaling 6,498,428 shares, an increase of 28.0% from the March 15th total of 5,078,800 shares. Approximately 9.0% of the shares of the company are short sold. Based on an average trading volume of 1,142,898 shares, the days-to-cover ratio is currently 5.7 days.
Analyst Ratings Changes
Several equities analysts have recently issued reports on LOAR shares. The Goldman Sachs Group reissued a “buy” rating and set a $98.00 price target on shares of Loar in a report on Thursday, February 26th. Wall Street Zen cut shares of Loar from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Citigroup cut their price objective on shares of Loar from $83.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Zacks Research raised shares of Loar to a “hold” rating in a research note on Monday, March 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Loar in a research report on Friday, April 10th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.
Insider Transactions at Loar
In other news, insider Dirkson R. Charles acquired 36,434 shares of Loar stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $67.45 per share, for a total transaction of $2,457,473.30. Following the completion of the purchase, the insider directly owned 4,087,005 shares of the company’s stock, valued at $275,668,487.25. This trade represents a 0.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anthony Carpenito acquired 4,750 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $64.97 per share, with a total value of $308,607.50. Following the acquisition, the director owned 4,750 shares of the company’s stock, valued at $308,607.50. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 173,800 shares of company stock worth $11,327,673 in the last quarter. Insiders own 22.60% of the company’s stock.
Institutional Trading of Loar
A number of institutional investors have recently made changes to their positions in LOAR. Rakuten Securities Inc. acquired a new stake in shares of Loar during the 2nd quarter valued at $27,000. Fifth Third Bancorp acquired a new position in shares of Loar in the 4th quarter worth $28,000. Sunbelt Securities Inc. raised its position in shares of Loar by 238.3% during the fourth quarter. Sunbelt Securities Inc. now owns 592 shares of the company’s stock worth $40,000 after purchasing an additional 417 shares during the period. Farther Finance Advisors LLC raised its position in shares of Loar by 8,383.3% during the third quarter. Farther Finance Advisors LLC now owns 509 shares of the company’s stock worth $41,000 after purchasing an additional 503 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Loar by 122.4% during the third quarter. PNC Financial Services Group Inc. now owns 774 shares of the company’s stock valued at $62,000 after purchasing an additional 426 shares during the last quarter.
Loar Trading Up 9.0%
NYSE:LOAR opened at $67.36 on Friday. Loar has a 1 year low of $54.58 and a 1 year high of $99.67. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 89.81 and a beta of 0.89. The business has a fifty day moving average of $64.45 and a 200-day moving average of $69.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.98 and a current ratio of 4.70.
Loar (NYSE:LOAR – Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. The business had revenue of $131.75 million for the quarter, compared to analysts’ expectations of $128.00 million. Loar had a net margin of 14.54% and a return on equity of 7.54%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. Loar has set its FY 2026 guidance at 0.760-0.800 EPS. Equities analysts predict that Loar will post 0.28 earnings per share for the current year.
About Loar
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.