Loar (NYSE:LOAR) Earns “Outperform” Rating from Royal Bank of Canada

Loar (NYSE:LOARGet Free Report)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $100.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 25.08% from the stock’s previous close.

A number of other brokerages have also recently issued reports on LOAR. Citigroup increased their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley increased their price objective on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th.

View Our Latest Stock Analysis on Loar

Loar Stock Performance

Shares of LOAR stock traded down $0.99 during mid-day trading on Thursday, reaching $79.95. The company’s stock had a trading volume of 164,483 shares, compared to its average volume of 298,451. The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average is $78.45 and its two-hundred day moving average is $65.80. Loar has a 1-year low of $42.57 and a 1-year high of $95.35.

Loar (NYSE:LOARGet Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $97.10 million during the quarter, compared to analyst estimates of $91.70 million. Loar’s revenue was up 31.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Loar will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Loar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOAR. Arcadia Investment Management Corp MI bought a new stake in shares of Loar during the second quarter valued at approximately $26,000. nVerses Capital LLC acquired a new position in Loar during the 3rd quarter worth $45,000. Amalgamated Bank acquired a new position in Loar during the 2nd quarter worth $37,000. Linonia Partnership LP acquired a new stake in shares of Loar in the 2nd quarter valued at $53,000. Finally, Renaissance Capital LLC increased its stake in shares of Loar by 22.4% in the 3rd quarter. Renaissance Capital LLC now owns 11,392 shares of the company’s stock valued at $850,000 after buying an additional 2,083 shares during the period.

Loar Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Loar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loar and related companies with MarketBeat.com's FREE daily email newsletter.