Loar (NYSE:LOAR) PT Raised to $80.00

Loar (NYSE:LOAR) had its target price boosted by Royal Bank of Canada from $65.00 to $80.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 6.68% from the stock’s current price.

A number of other research analysts have also recently issued reports on LOAR. Citigroup assumed coverage on shares of Loar in a report on Monday, May 20th. They issued a “buy” rating and a $64.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Loar in a report on Monday, June 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on shares of Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday.

Loar Trading Up 1.2 %

NYSE LOAR traded up $0.90 on Wednesday, reaching $74.99. 155,711 shares of the stock traded hands, compared to its average volume of 318,267. The company has a quick ratio of 1.68, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. The stock’s fifty day simple moving average is $58.58. Loar has a 12 month low of $42.57 and a 12 month high of $75.75.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $91.70 million. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. Analysts expect that Loar will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Abrams Capital Management L.P. purchased a new position in shares of Loar in the 2nd quarter valued at about $2,052,780,000. Federated Hermes Inc. purchased a new position in shares of Loar in the second quarter valued at approximately $38,952,000. Zweig DiMenna Associates LLC purchased a new stake in shares of Loar during the second quarter worth $9,208,000. TCW Group Inc. acquired a new stake in Loar in the 2nd quarter valued at about $7,366,000. Finally, Roubaix Capital LLC acquired a new stake in shares of Loar in the second quarter valued at approximately $3,537,000.

About Loar

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.