Loar (NYSE:LOAR) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Loar (NYSE:LOAR) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $100.00 price objective on the stock.

LOAR has been the subject of several other reports. Morgan Stanley upped their target price on Loar from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Citigroup raised their target price on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

Loar Stock Down 1.3 %

LOAR stock traded down $1.04 during trading on Thursday, hitting $81.13. The stock had a trading volume of 129,156 shares, compared to its average volume of 299,003. Loar has a 1-year low of $42.57 and a 1-year high of $95.35. The company’s 50 day moving average price is $78.45 and its two-hundred day moving average price is $65.80. The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33.

Loar (NYSE:LOAR) last announced its earnings results 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 for the quarter, compared to analyst estimates of $91.70 million. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Sell-side analysts forecast that Loar will post 0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Loar

Institutional investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. purchased a new stake in shares of Loar during the third quarter valued at approximately $306,000. HighTower Advisors LLC purchased a new stake in Loar during the 3rd quarter worth $290,000. Holocene Advisors LP acquired a new position in Loar in the 3rd quarter worth $267,000. PDT Partners LLC purchased a new position in Loar in the 3rd quarter valued at about $1,636,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Loar during the third quarter valued at about $727,000.

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.