Citigroup Cuts Loar (NYSE:LOAR) Price Target to $71.00

Loar (NYSE:LOAR) had its price target trimmed by Citigroup from $83.00 to $71.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded Loar from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $98.00 target price on shares of Loar in a report on Thursday, February 26th. Royal Bank Of Canada reduced their price target on shares of Loar from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Loar in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Loar to a “hold” rating in a research note on Monday, March 9th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Loar presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Loar Stock Performance

Shares of LOAR stock opened at $57.14 on Thursday. The stock’s 50-day moving average is $65.36 and its two-hundred day moving average is $70.60. 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 has a 1 year low of $54.58 and a 1 year high of $99.67. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 76.19 and a beta of 0.89.

Loar (NYSE:LOAR) last posted its earnings results on Thursday, February 26th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.07. The business had revenue of $131.75 million during the quarter, compared to the consensus estimate of $128.00 million. Loar had a return on equity of 7.54% and a net margin of 14.54%.The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. Loar has set its FY 2026 guidance at 0.760-0.800 EPS. Analysts predict that Loar will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Anthony Carpenito acquired 4,750 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $64.97 per share, for a total transaction of $308,607.50. Following the transaction, the director directly owned 4,750 shares in the company, valued at approximately $308,607.50. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raja Bobbili acquired 50,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of $63.61 per share, for a total transaction of $3,180,500.00. Following the completion of the purchase, the director directly owned 50,000 shares in the company, valued at $3,180,500. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 173,800 shares of company stock valued at $11,327,673 in the last ninety days. Company insiders own 22.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Thrive Wealth Management LLC raised its holdings in Loar by 0.3% during the third quarter. Thrive Wealth Management LLC now owns 41,016 shares of the company’s stock worth $3,281,000 after purchasing an additional 133 shares in the last quarter. Arizona State Retirement System boosted its holdings in Loar by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 9,689 shares of the company’s stock valued at $775,000 after purchasing an additional 134 shares in the last quarter. Xponance Inc. increased its position in Loar by 2.7% during the 3rd quarter. Xponance Inc. now owns 5,749 shares of the company’s stock worth $460,000 after purchasing an additional 150 shares during the period. Amalgamated Bank raised its stake in shares of Loar by 7.1% during the 3rd quarter. Amalgamated Bank now owns 3,059 shares of the company’s stock worth $245,000 after buying an additional 204 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Loar by 1.8% during the 2nd quarter. Captrust Financial Advisors now owns 12,147 shares of the company’s stock worth $1,047,000 after buying an additional 214 shares in the last quarter.

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.