Loar Holdings, LLC (NYSE:LOAR) Short Interest Up 6.8% in August

Loar Holdings, LLC (NYSE:LOAR) was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totalling 1,260,000 shares, a growth of 6.8% from the July 31st total of 1,180,000 shares. Based on an average daily trading volume, of 284,400 shares, the short-interest ratio is presently 4.4 days. Currently, 1.9% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LOAR shares. Citigroup lifted their price target on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley increased their price objective on Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Jefferies Financial Group began coverage on shares of Loar in a report on Monday, June 3rd. They set a “buy” rating and a $65.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on shares of Loar from $65.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th.

Loar Stock Performance

Shares of NYSE LOAR opened at $67.62 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09. Loar has a 12 month low of $42.57 and a 12 month high of $76.94. The stock has a fifty day moving average of $62.53.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $97.10 million for the quarter, compared to the consensus estimate of $91.70 million. The firm’s revenue was up 31.2% on a year-over-year basis. As a group, analysts predict that Loar will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Loar

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arcadia Investment Management Corp MI purchased a new position in Loar during the second quarter worth $26,000. Amalgamated Bank acquired a new position in shares of Loar during the second quarter worth $37,000. Linonia Partnership LP acquired a new position in shares of Loar during the second quarter valued at about $53,000. RiverPark Advisors LLC purchased a new position in shares of Loar in the second quarter worth $155,000. Finally, WINTON GROUP Ltd acquired a new stake in Loar during the 2nd quarter worth about $205,000.

Loar Company Profile

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.