Loar (LOAR) Expected to Announce Quarterly Earnings on Wednesday

Loar (NYSE:LOAR) will likely be posting its quarterly earnings results before the market opens on Wednesday, February 26th. Analysts expect Loar to post earnings of $0.07 per share for the quarter.

Loar Stock Down 1.1 %

Shares of LOAR stock opened at $69.61 on Friday. Loar has a 1 year low of $42.57 and a 1 year high of $96.99. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The stock has a 50 day simple moving average of $75.71 and a 200 day simple moving average of $77.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Loar in a report on Thursday, November 14th.

Insider Activity at Loar

In related news, insider Michael J. Manella sold 28,153 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $2,285,179.01. Following the completion of the transaction, the insider now owns 580,388 shares in the company, valued at $47,110,093.96. This trade represents a 4.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Brett N. Milgrim sold 120,305 shares of Loar stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the sale, the chairman now owns 3,865,327 shares in the company, valued at approximately $313,748,592.59. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,135,706 shares of company stock valued at $92,185,256 in the last quarter.

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.